RIA Compliance and Practice Management Blog

Each week we’re 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 success of the Securities and Exchange Commission's (“SEC”) whistleblower program, the SEC's proposed rewrite of the advertising rule, and the financial exploitation of senior citizens.

The North American Securities Administrators Association (“NASAA”) has released its 2019 Investment Adviser Coordinated Examinations Report. This report is released on a bi-annual basis and analyzes the findings from adviser examinations and offers best practices. As RIA Compliance Consultants, we recommend that the Chief Compliance Officer (“CCO”) of all investment advisory firms review the regulatory exam summary report to determine if any changes should be implemented at their firm as a result of NASAA’s findings.

Each week we’re 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”) proposed changes to the advertising and solicitation rule, 2019 SEC enforcement actions, and proposed proxy rule changes. 

On November 4, 2019, the Securities and Exchange Commission ("SEC") issued a release announcing "it has voted to propose amendments to modernize the rules under the Investment Advisers Act addressing investment adviser advertisements and payments to solicitors." Rule 206(4)-1, commonly referred to as the "Advertising Rule" has not been modified since its adoption in 1961 and Rule 206(4)-3, commonly referred to as the "Cash Solicitation Rule" has not been modified since its adoption in 1979. In recent years, the SEC Office of Compliance Inspections and Examinations ("OCIE") has issued registered investment adviser ("RIA") regulatory risk alerts related to the Advertising Rule and Cash Solicitation Rule. Despite this more recent guidance, the SEC notes that much has changed since the rules were initially adopted. As such, "the proposed amendments are intended to update these rules to reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of industry practices."

One of our company's longstanding commitments is investing time and resources to make the RIA in a Box MyRIACompliance^® platform the industry leading compliance technology offering for registered investment adviser ("RIA") firms. We put the client first by delivering innovative software and expert advice. Since 2005 we take pride in partnering with our clients to establish and support the highest quality registered investment adviser firms in the country.  At RIA in a Box, we release new MyRIACompliance^® software features and enhancements on a daily basis to meet the growing compliance challenges that investment advisers continue to confront.

Each week we’re 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”) 2019 performance review, RIAs disclosing conflicts of interest, and the RIA ecosystem.

The North American Securities Administrators Association (“NASAA”) recently released its 2019 Investment Adviser Coordinated Examinations Report. This report is released on a bi-annual basis and analyzes the findings from adviser examinations and offers best practices. As RIA compliance consultants, we recommend that the Chief Compliance Officer (“CCO”) of all investment advisory firms review the regulatory exam summary report to determine if any changes should be implemented at their firm as a result of the most recent findings.

Each week we’re 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 ("SEC") share-class initiative, private funds enforcement, and proposed changes to the whistle-blower program. 

On November 11, 2019, the preliminary renewal statement for every registered investment adviser ("RIA") firm will be posted on the Investment Adviser Registration Depository ("IARD") website. A firm’s failure to pay renewal fees to the proper jurisdiction(s) will result in the termination of the firm’s registration. It's also important to note that renewal statements are not physically mailed to firms as statements are only available online via the IARD website. Even if an RIA firm was first registered in 2019, the investment advisory firm is still required to pay the proper renewal fees this year.

Each week we’re 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 ("SEC") Inspector General report, the new president of the Financial Planning Association ("FPA"), and the latest trends in new wealth management technology.