RIA Compliance and Practice Management Blog

How to develop your RIA’s culture of compliance for 2023 and beyond

Posted by RIA in a Box

Dec 8, 2022 1:49:50 PM

High angle view of young partners discussing in meeting room at creative office

They say no man is an island. A theory which, applies itself quite suitably to a registered investment adviser (RIA) firm’s compliance program.

How?

While your chief compliance officer (CCO) may lead the compliance charge, they should, by no means, be an island unto themselves, solely responsible for the compliance strategy (and success) of your firm. In order to truly remain in compliance with the Securities and Exchange Commission (SEC), as well as state level regulatory bodies, a firm must define and support a culture which prioritizes compliance.

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Topics: RIA Compliance

The ultimate guide to RIA social media compliance in 2023

Posted by RIA in a Box

Dec 6, 2022 1:35:50 PM

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Social media is one of the simplest ways for a registered investment adviser (RIA) firm to build their brand. It’s free, it’s easy and it’s ripe with opportunity.

But it can also be dangerous for advisers who don’t know what they’re doing. Indeed, among many changes, the newly updated Marketing Rule revised Form ADV to require additional detail about an RIA’s marketing practices. This information will undoubtedly be factored into regulators’ examination and enforcement methodology.

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Topics: RIA Compliance

The cost of noncompliance for investment advisory firms

Posted by RIA in a Box

Dec 5, 2022 12:23:53 PM

RIA noncompliance cost (1)

There is no doubt, complying with the myriad rules and regulations of the Securities and Exchange Commission (SEC) or state regulatory bodies requires significant investment in both time and money. For registered investment adviser (RIA) firms, the cost can be quite high, depending in part, on factors like what types of products and services they offer.

Because of this steep cost, some compliance teams, particularly those who serve firms which have not experienced significant regulatory concerns, may see reluctance or even resistance to funding the compliance program from senior leaders who see the chief compliance officer’s (CCO) efforts as a drain on firm profits.

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Topics: RIA Operations, RIA Compliance

Top RIA compliance news articles for the week of Nov. 25, 2022

Posted by RIA in a Box

Dec 2, 2022 12:00:15 PM

RIA marketing rule

Each Friday, we are giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser (RIA) compliance and regulatory issues. This week's recap focuses on anticipation around regulations from the Department of Labor (DOL), how you can help elderly clients stay clear of  scams and how the ComplyConnect Conference & Expo met the needs of wealth management professionals.

Here are our top investment adviser compliance articles for the week of Nov. 25, 2022:

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Topics: RIA Operations, RIA Compliance, RIA Technology

Why investing in regulatory compliance technology will be a game changer for your investment firm in 2023

Posted by RIA in a Box

Dec 1, 2022 4:42:50 PM

stock-broking

For a compliance professional to successfully mitigate the risk of noncompliance at their investment firm, they must stay ahead of trends and proactively equip their firm with the appropriate compliance protocols and procedures. And in today’s digital-first environment, that often means investing in the right technology.

In our propriety research and industry analysis, we examined how financial firms are functioning amid heighted regulatory activity, what risks are taking priority and where investments are being made. In doing so, we aggregated data and insight into not only how investment firms are using compliance technology now, but how they will do so in the future.

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Topics: RIA Operations, RIA Compliance

Compliance for RIAs: How to avoid and address conflicts of interest

Posted by RIA in a Box

Nov 29, 2022 9:27:22 AM

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As a registered investment adviser (RIA), your firm is subject to various rules and regulations – each put in place to protect the firm, its employees and investors.  

One of the most important areas for investment advisory firms to monitor is potential or active conflicts of interest. Today, we’re discussing the most common areas related to conflicts of interest and what firms can do to both prevent and/or address these situations. 

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Topics: RIA Operations, RIA Compliance

RIA in a Box’s new SEC Rule Checklist streamlines marketing and advertising compliance

Posted by RIA in a Box

Nov 23, 2022 10:00:00 AM

SEC Rule Checklist

On Nov. 22 2022, RIA in a Box released its new SEC Rule Checklist, created in response to the Securities and Exchange Commission’s (SEC) amended Rule 206(4)-1, under the Advisers Act, which addresses registered investment adviser (RIA) firms marketing their services to clients and investors (The Marketing Rule). The SEC Rule Checklist is accessible to clients through the MyRIACompliance platform, and can be located within the existing Marketing Rule module.

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Topics: RIA Operations, RIA Compliance

Myth busters: Your RIA’s CCO (or chief compliance officer) is solely responsible for meeting RIA compliance requirements

Posted by RIA in a Box

Nov 22, 2022 8:59:20 AM

top view of  business people group on meeting, working in modern bright office indoor with tablet computer

As a registered investment adviser (RIA) chief compliance officer (CCO), you have a lot on your plate. Being responsible for the compliance functionality within your RIA means a lot of different things, however, what it doesn’t mean? That you are solely responsible for complying with all RIA compliance requirements as set out by the state or Securities and Exchange Commission (SEC).

So, who is? Simple, everyone.

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Topics: RIA Operations, RIA Compliance

SEC enforcement action results: a review of SEC fines and penalties in 2022

Posted by RIA in a Box

Nov 21, 2022 1:58:57 PM

www.riainabox.comhubfsSEC Registered Investment Advisors-2-1

The Securities and Exchange Commission (SEC) have officially released their enforcement actions and the associated fines and penalties for fiscal year 2022. And the result? A staggering $6.4 billion in penalties and disgorgement resulting from 760 SEC enforcement actions. As we wrap FY22, what can registered investment advisers (RIAs) learn from such steep penalties? Accountability is everything.

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Topics: RIA Operations, RIA Compliance

Top RIA compliance news articles for the week of Nov. 11, 2022

Posted by RIA in a Box

Nov 18, 2022 12:50:14 PM

RIA marketing rule

Each Friday, we are giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser (RIA) compliance and regulatory issues. This week's recap focuses on the Securities and Exchange Commission’s (SEC) new Marketing Rule and how firms can best adhere to it, registered investment advisers (RIA) intentions to invest more into their compliance programs and the cost for firms to comply with the SEC’s environmental, social and governance (ESG) proposed regulations.

Here are our top investment adviser compliance articles for the week of Nov. 11, 2022:

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Topics: RIA Operations, RIA Compliance, RIA Technology

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RIA in a Box LLC is not a law firm, investment advisory firm, or CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

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