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Nebraska Releases Registered Investment Adviser Cybersecurity Report

Posted by RIA in a Box

Feb 20, 2019 9:22:53 AM

Cybersecurity Report for RIA FirmsRecently, 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.
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Topics: RIA Compliance, RIA Technology, RIA Operations

Top RIA Compliance News Articles for the Week of February 8, 2019

Posted by RIA in a Box

Feb 15, 2019 3:03:54 PM

joel bruckenstein cybersecurity

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 cybersecurity, the Securities and Exchange Commission's ("SEC'") Regulation Best Interest Proposal ("Reg BI"), and RIA custody rules. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

The 3 RIA Cybersecurity Elements: People, Technology, and Vendors

Posted by RIA in a Box

Feb 11, 2019 3:18:57 PM

RIA Cybersecurity TechnologySince 2015, the U.S. Securities and Exchange Commission ("SEC") Office of Compliance Inspections and Examinations ("OCIE") has specifically listed cybersecurity as a registered investment adviser ("RIA") annual examination priority. Most recently, the SEC once again highlighted cybersecurity as a regulatory examination priority for 2019. In particular, the SEC OCIE staff noted, "Specific to investment advisers, SEC OCIE will… continue to focus on, among other areas, governance and risk assessment, access rights and controls, data loss prevention, vendor management, training, and incident response.” These six areas of focus for information security were first enumerated in a September 15, 2015 SEC RIA risk alert and have remain unchanged since.

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Topics: RIA Compliance, RIA Technology, RIA Operations

Top RIA Compliance News Articles for the Week of February 1, 2019

Posted by RIA in a Box

Feb 8, 2019 3:04:20 PM

sec 2019 RIA audit priorities

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 cybersecurity, the Securities and Exchange Commission's ("SEC'") Regulation Best Interest Proposal ("Reg BI"), and advisor fee strategies. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

RIA Firms Need to Review these 4 SEC Risk Alerts from 2018

Posted by RIA in a Box

Feb 5, 2019 9:15:00 AM

2018 Top SEC RIA Risk AlertsIn 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." 

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of January 25, 2019

Posted by RIA in a Box

Feb 1, 2019 4:08:41 PM

sec 2019 RIA audit priorities

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 RIA vendor due diligence, cybersecurity, and succession planning. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of January 18, 2019

Posted by RIA in a Box

Jan 25, 2019 5:17:48 PM

sec 2019 RIA audit priorities

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 potential compliance issues when utilizing TAMPs, the impact on the Securities and Exchange Commission ("SEC") through the continued government shutdown, cybersecurity, and Nevada's proposed fiduciary rule. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

Make Cybersecurity Part of your RIA Firm's Annual Compliance Meeting

Posted by RIA in a Box

Jan 22, 2019 4:55:55 PM

RIA Firm Cyber Security Staff TrainingIn general, a registered investment adviser ("RIA") firm's policies and procedures manual should outline the process for the firm's Chief Compliance Officer ("CCO") to conduct a series of review activities including an annual compliance program review as mandated by Rule 206(4)-7 of the Investment Advisers Act of 1940. In addition, the CCO is generally tasked with training company staff on a variety of relevant regulatory topics that impact the firm and each individual at the firm. The annual compliance meeting can serve as the platform to address many compliance training responsibilities including cybersecurity which remains a top federal and state RIA regulatory compliance examination focus area.

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Topics: RIA Compliance, RIA Operations, RIA Technology

Top RIA Compliance News Articles for the Week of January 11, 2019

Posted by RIA in a Box

Jan 18, 2019 3:32:38 PM

sec 2019 RIA audit priorities

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") crackdown on cybersecurity, how the RIA industry is fragmenting, and the SEC's Regulation Best Interest ("Reg BI") proposal. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

How MyRIACompliance Software Integrates with Salesforce

Posted by RIA in a Box

Jan 17, 2019 8:25:31 AM

Salesforce RIA CRM complianceRegistered investment adviser ("RIA") firms utilizing our MyRIACompliance RIA compliance software platform benefit from our integration with Salesforce which is the leading customer relationship manager ("CRM) software provider to investment advisers. The integration allows a joint Salesforce and RIA in Box MyRIACompliance subscriber to view and complete tailored regulatory compliance tasks all within the Salesforce task and calendar system. MyRIACompliance helps to programmatically deliver firm-specific compliance tasks utilizing the firm’s Form ADV and other proprietary data directly into the Salesforce system. 

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Topics: RIA Compliance, RIA Operations, RIA Technology

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