RIA Compliance and Practice Management Blog

Retirement planning affects nearly every investor. Whether it’s now or down the road, they’ll likely want to start investing in their future. While retirement planning is a necessary tool, it’s not always straightforward.  

As investors turn to financial professionals for guidance on their retirement plans, investment advisers must adhere to their fiduciary duties. In this blog post, we discuss common questions and answers for registered investment advisers (RIA) regarding the Department of Labor’s (DOL) most recently established rule and associated exemption - Prohibited Transaction Exemption (PTE) 2020-02.  

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 the Securities and Exchange Commission (SEC) Marketing Rule, warnings of potential fraud amid a looming recession, and tips for investment advisers to protect against cyber attacks.

Here are our top investment adviser compliance articles for the week of Nov. 4, 2022:

It’s official! RIA in a Box, ComplySci, NRS and illumis are now COMPLY companies. To help registered investment adviser (RIA) firms continue to mitigate risk and comply with heightened regulations, our four firms have officially come together under one parent brand to bring RIAs the most holistic regulatory compliance solutions on the market. It couldn’t have come at a better time, as ComplySci continues to report statistics on the need for increased technological support in the heightened regulatory compliance environment.

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 the Securities and Exchange Commission (SEC) Marketing Rule, the SEC’s continued enforcement actions, and how firms embrace communication apps and remain in compliance.

Here are our top investment adviser compliance articles for the week of Oct. 28, 2022:

Last week, the Securities and Exchange Commission (SEC) released a new rule proposal and amendments under the Investment Advisers Act of 1940, which would prohibit SEC-registered investment adviser (RIA) firms from outsourcing certain services without conducting due diligence and monitoring of the third-party service providers and recordkeepers. The SEC’s proposed rule 206(4)-11, will also require RIAs to maintain books and records related to the new oversight obligations, as well as report census-type information on the service providers in the Form ADV.  

Registered investment adviser (RIA) registration renewal season is right around the corner. Nov. 8 marks the beginning of RIA renewal season for firms registered with the Securities and Exchange Commission (SEC), yet it is by no means the only critical date firms should mark on their calendars. In this blog, we’ll recap the requirements to register your firm with the SEC and dive into upcoming deadlines for those firms going through the RIA annual renewal season this year ─ including when you can expect your preliminary renewal statement to be posted to the IARD website.

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 the Securities and Exchange Commission’s (SEC) proposed rule which would make investment advisers responsible for monitoring third-party service providers, the industry response to the proposed rule, the opportunities and requirements which the SEC’s new marketing rule presents to firms and investment advisers’ perspective of cryptocurrencies in light of the SEC’s recent enforcement actions.

Here are our top investment adviser compliance articles for the week of Oct. 21, 2022:

As the end of National Cybersecurity Awareness Month is approaching, we hope registered investment adviser (RIA) firms have become more equipped to confidently improve their cybersecurity programs using the information and guidance RIA in a Box provided. Ideally, your firm’s systems and data should be safeguarded against hackers. However – we recommend a form of "ethical hacking", known as penetration testing, to assess the security of your systems. 

In this blog post, we discuss the steps RIAs should take before conducting penetration testing to ensure they get the most value out of the common cybersecurity vulnerabilities assessment. 

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 the impact midterm elections could have on adviser issues, the surge in scams targeted at elderly investors, and what advisers can learn from the significant record-keeping fines levied by regulators such as the Securities and Exchange Commission (SEC).

Here are our top investment adviser compliance articles for the week of Oct. 14, 2022:

In a previous question and answer blog, we explored how registered investment adviser (RIA) firms can help their employees become their best cybersecurity defense. Head of Virtual Desktop Infrastructure (VDI) at RIA in a Box Richard Mabbun emphasizes the importance of establishing a tailored cybersecurity training plan for an RIA firm’s employees. In this blog post, we discuss the different stages of cybersecurity training, from basic to intermediate, that RIAs can provide to their employees, along with best practices for a cybersecurity program.