In 2018, the U.S. Securities and Exchange Commission ("SEC") Office of Compliance Inspections and Examinations ("OCIE") issued a series of registered investment adviser ("RIA") risk alerts. There are four particular risk alerts that are most relevant to traditional retail wealth management investments advisers: fee billing, best execution, cash solicitation, and electronic messaging. Risk alerts are generally issued based upon SEC OCIE staff observations and are designed to help RIA firms better "(i) assess their supervisory, compliance, and/or other risk management systems related to these risks, and (ii) make any changes, as may be appropriate, to address or strengthen such systems."
Recently, the Nebraska Department of Banking and Finance ("NDBF") released the results of its 2018 Cybersecurity Survey of Registered Investment Adviser ("RIA") firms registered with the state of Nebraska. The NDBF notes, "that Nebraska advisers were taking steps to address cybersecurity threats, but that firms also could improve their practices. The survey focused on several cybersecurity issues, including devices, Wi-Fi access, passwords and encryption, and anti-virus/anti-malware protections." While this report is focused on information security issues for state-registered firms in Nebraska, we believe the insights are highly relevant to all state and federally-registered investment advisory firms across the country. As RIA compliance consultants, we recommend that the Chief Compliance Officer ("CCO") of all investment advisory firms review Nebraska's cybersecurity report to determine if any information security-related compliance changes need to be implemented at their firm.
Since 2015
To stay on top of the latest industry trends and education topics, advisors at registered investment adviser ("RIA") firms have many options to turn to online. You can read blogs, view webinars, and listen to podcasts just to name a few. So why should should an advisor spend the time and money to attend an industry conference? While it likely does not make sense to attend every industry event out there, finding the right conference for you to attend can have a meaningful impact on your firm and individual professional development! 
