RIA Compliance and Practice Management Blog

Yesterday, we announced our partnership with InvestorCOM and the upcoming release of the RolloverAnalyzer™ solution, created for independent advisory firms and registered investment advisers ("RIAs") to meet the Department of Labor's ("DOL") PTE 2020-02 rollover requirements by the upcoming compliance deadline of July 1, 2022. 

The RolloverAnalyzer™ provides advisers with an intuitive digital solution to assess, document, and disclose rollover recommendations and meet compliance requirements in a single process.

It’s important for registered investment advisers (“RIAs”) of all sizes to stay up to date with rules, regulations, and regulatory bulletins, such as risk alerts, to remain in compliance with all business operations, like billing practices. In this blog post, we cover the “dos and don’ts” related to RIA client billing and fees. Firms can use these tips when reviewing their client agreements, policies, and procedures manuals. 

Each week, 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 compliance with the Securities and Exchange Commission's ("SEC") Marketing Rule, an investment adviser's fiduciary duty, and industry concerns on arbitration clauses.

Here are our top investment adviser compliance articles for the week of May 13th, 2022:

Many registered investment advisor (“RIA”) firms are experiencing increased growth in terms of assets under management (“AUM”) and employees. As RIA firms seek to hire (or acquire) new talent, they must prepare their compliance programs to properly onboard any new members of their teams. This is a vital step in creating and maintaining a culture of compliance. 

We’re providing RIAs with a series of content this spring on how to optimize their compliance programs. Our last blog post covered compliance considerations while hiring new employees. In this post, we discuss key compliance components to keep in mind while onboarding and what to include in your policies and procedures regarding onboarding new employees at your firm.

Each week, 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 potential anti-money laundering regulation, compliance with the Fiduciary Rule, the Securities and Exchange Commission's ("SEC") comment period before rule making, and a House bill aimed at preventing elder abuse.

Here are our top investment adviser compliance articles for the week of May 6th, 2022:

Amid the increasing cybersecurity threats like ransomware, phishing scams, and malware, regulators are focusing on strengthening cybersecurity measures across the wealth management industry. 

Registered investment adviser ("RIA") firms must enhance their cybersecurity programs to meet the evolving compliance requirements and protect their firms from advanced threats. In this Q & A with Richard Mabbun, Co-Founder of ITEGRIA, we explore how firms can make employees their best cybersecurity defense.

Each week, 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 compliance guidance for small firms, the Securities and Exchange Commission's ("SEC") proposed Cybersecurity Rule, concerns with compliance with the Marketing Rule, preventing elder abuse, and increased regulatory attention on the cryptocurrency market. 

Here are our top investment adviser compliance articles for the week of April 29th, 2022:

There are many factors to consider when hiring a new team member for your registered investment adviser (“RIA”) firm. Each new member of your team brings their own unique background and experiences to your firm, making it a critical task for the hiring manager to gather certain information about compliance. In fact, it is crucial for your RIA firm to understand the regulatory considerations when hiring any new employee, whether they’re an investment adviser representative, in human resources, or doing administrative work. Each role within your firm requires different levels of compliance oversight and access control. 

Below we discuss the key compliance considerations that your firm should consider throughout the hiring process.

On April 26, 2022, the Securities and Exchange Commission (“SEC”) Division of Examinations (“EXAMS”) released a new risk alert highlighting the recently observed deficiencies related to Section 204A of the Investment Advisers Act of 1940, (the “Advisers Act”) and Rule 204A-1 (the “Code of Ethics Rule”).  

Investment advisers must establish, maintain, and implement policies and procedures to prevent the misuse of potential material non-public information (“MNPI”) by the adviser or any relevant persons identified as "access persons". 

Below we discuss both the compliance deficiencies and best practices highlighted in this investment adviser risk alert.

Each week, 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 developing a scalable compliance program, the North American Securities Administrators Association ("NASAA") Continuing Education Model Rule, ComplySci's 2022 Chief Compliance Officer Playbook, and conflicts related to the definition of fiduciary status. 

Here are our top investment adviser compliance articles for the week of April 22nd, 2022: