Investment Advisers who advise IRAs and pensions have increased risk of being a “fiduciary” under this final rule.
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IA Advertising: SEC’s DOE wants advisers to see the forest AND the trees – review those ads at least twice and from more than one angle. Recent exams results warn advisers not to use advertisements that are (i) materially misleading, (ii) not fair and balanced and/or (iii) including facts that can’t be substantiated.
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Two recently introduced bills would restrict or discourage classes of retirement plan investments. Is this the right policy?
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Following a recent review of 130 Investment Advisers, the SEC’s Division of Examinations cited numerous deficiencies and warned of “financial harm to clients”. Our article identifies the most common flaws noted in the DOE’s latest Risk Alert.
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Avoiding Notable Compliance Issues that were identified by the SEC.
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The first Form CRS (Client Relationship Summaries) have been delivered and filed by investment advisors. But regulators are suggesting that firms could do a lot better.
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Lauri London quoted in the April 13, 2020, Regulatory Compliance Watch newsletter.
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Lauri London shares an update on the Form CRS Risk Alert issued by the SEC’s Office of Compliance Inspections and Examinations.
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New IRA Rules May Change Your Estate Plan.
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While the SEC thinks that it clarified Reg BI with its recently published, 42-page interpretation, we think that it raised questions for investment advisers that could force them to upgrade their policies, procedures, and compliance programs.
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Can plan fiduciaries prove that participants read the required disclosures about investments? The Supreme Court weighed in on the issue of “actual knowledge” of a plan participant.
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Can your plan records be hacked? Plan fiduciaries need to focus on cybersecurity:
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The SEC's proposed new advertising rule presents significant changes for RIAs' Policies, Procedures, Books & Records requirements and testing.
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The SEC thinks that it “clarified” Reg BI when it published a new 42-page interpretation. But to us, it looks like investment advisers may need to make a wholesale upgrade of compliance programs. Read more…
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New Guidance from OICE encourages changes to Investment Advisers’ compliance programs to address specific risk. Off-the-Shelf compliance programs don’t cut it anymore.
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