RIA Compliance and Practice Management Blog

March 2020 RIA Compliance Software Innovations

Posted by RIA in a Box

Apr 2, 2020 9:30:00 AM

latest RIA compliance software features from RIA in a BoxOne 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. 

Download 10 Tips for Business Continuity and Disruption Planning Checklist

Here are the key new MyRIACompliance® RIA compliance software features, integrations, and updates released during March 2020:

1.  RIA Pandemic Business Continuity Policy

In response to COVID-19, MyRIACompliance® subscribers now have access to a new pandemic-specific business continuity plan which directly addresses business disruptions related pandemics, epidemics, and outbreaks. The new policy addresses such topics as:

  • General business operations including client communication considerations
  • Remote operations
  • Managing 3rd party vendors
  • Personnel including alternative forms of client meetings

2. RIA Cybersecurity COVID-19 Email Phishing Testing

As coronavirus-related email phishing attacks targeted RIA firms are becoming increasingly prevalent, RIA in a Box has added new email phishing templates to the MyRIACompliance® cybersecurity platform to simulate common attacks that RIA firms may face. Supervisory users can send automated test phishing emails to the firm's staff to gauge their level of awareness and readiness for these types of attacks by monitoring emails sent, opened, and clicked.

RIA email phishing testing coronavirus

 

3. Form CRS Creation Tool

SEC-registered RIA firms are required to submit an initial filing of the new Form ADV Part 3, otherwise known as "Form CRS" by June 30, 2020. To help streamline and automate the creation of the Form CRS, RIA in a Box has released a proprietary online Form CRS creation tool available for no additional charge to all MyRIACompliance® subscribers. The automated tool uses the firm's existing Form ADV data along with a short, rules-based smart questionnaire to create the new required filing. The filing is crafted using "plain English" and is built to be machine readable to meet SEC requirements. The RIA in a Box team of compliance experts then works with the RIA firm, allowing the adviser to make any additional edits to the Form CRS.

 

Form CRS ADV Part 3 compliance software

4. Okta Identity Management Integration - SAML SSO

RIA in a Box's Okta Integration allows RIA firms to securely facilitate broader and more timely compliance participation from its advisers by enabling a Security Assertion Markup Language ("SAML") single sign-on ("SSO") into their MyRIACompliance account from Okta. Okta is an identity management service that allows enterprises to securely manage and grant user access to a variety of online applications. Many large investment advisory firms are now adopting solutions like Okta to help address cybersecurity challenges related to access rights and controls which is one of the primary SEC information security examination focus areas

To learn more about the complete functionalities of the RIA compliance software platform and how it could help solve compliance challenges at your firm, click below to schedule a 1 on 1 demo with a team member. 

Schedule a Demo of MyRIACompliance

Topics: RIA Compliance, RIA Technology

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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