RIA Compliance and Practice Management Blog

There is no doubt, complying with the myriad rules and regulations of the Securities and Exchange Commission (SEC) or state regulatory bodies requires significant investment in both time and money. For registered investment adviser (RIA) firms, the cost can be quite high, depending in part, on factors like what types of products and services they offer.

Because of this steep cost, some compliance teams, particularly those who serve firms which have not experienced significant regulatory concerns, may see reluctance or even resistance to funding the compliance program from senior leaders who see the chief compliance officer’s (CCO) efforts as a drain on firm profits.

Each Friday, 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 anticipation around regulations from the Department of Labor (DOL), how you can help elderly clients stay clear of  scams and how the ComplyConnect Conference & Expo met the needs of wealth management professionals.

Here are our top investment adviser compliance articles for the week of Nov. 25, 2022:

For a compliance professional to successfully mitigate the risk of noncompliance at their investment firm, they must stay ahead of trends and proactively equip their firm with the appropriate compliance protocols and procedures. And in today’s digital-first environment, that often means investing in the right technology.

In our propriety research and industry analysis, we examined how financial firms are functioning amid heighted regulatory activity, what risks are taking priority and where investments are being made. In doing so, we aggregated data and insight into not only how investment firms are using compliance technology now, but how they will do so in the future.

As a registered investment adviser (RIA), your firm is subject to various rules and regulations – each put in place to protect the firm, its employees and investors.  

One of the most important areas for investment advisory firms to monitor is potential or active conflicts of interest. Today, we’re discussing the most common areas related to conflicts of interest and what firms can do to both prevent and/or address these situations. 

On Nov. 22 2022, RIA in a Box released its new SEC Rule Checklist, created in response to the Securities and Exchange Commission’s (SEC) amended Rule 206(4)-1, under the Advisers Act, which addresses registered investment adviser (RIA) firms marketing their services to clients and investors (The Marketing Rule). The SEC Rule Checklist is accessible to clients through the MyRIACompliance platform, and can be located within the existing Marketing Rule module.

As a registered investment adviser (RIA) chief compliance officer (CCO), you have a lot on your plate. Being responsible for the compliance functionality within your RIA means a lot of different things, however, what it doesn’t mean? That you are solely responsible for complying with all RIA compliance requirements as set out by the state or Securities and Exchange Commission (SEC).

So, who is? Simple, everyone.

The Securities and Exchange Commission (SEC) have officially released their enforcement actions and the associated fines and penalties for fiscal year 2022. And the result? A staggering $6.4 billion in penalties and disgorgement resulting from 760 SEC enforcement actions. As we wrap FY22, what can registered investment advisers (RIAs) learn from such steep penalties? Accountability is everything.

Each Friday, 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) new Marketing Rule and how firms can best adhere to it, registered investment advisers (RIA) intentions to invest more into their compliance programs and the cost for firms to comply with the SEC’s environmental, social and governance (ESG) proposed regulations.

Here are our top investment adviser compliance articles for the week of Nov. 11, 2022:

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: