With Reg BI comes New Compliance Liability
When it comes to compliance, companies need to tailor their procedures and policies to the specific context in which the firm operates.
The New SEC Enforcement Director: Gurbir Grewal
Within a month of Gurbir Grewal stepping into his new role as the SEC enforcement director, he has already begun to ruffle a few feathers – by fining 27 firms for failing to file the Customer Relationship Summary (CRS) with the SEC. The CRS was put into place a year prior to Grewal’s instatement this July.
New SEC Enforcement Chief to Bring Wider Net to the Reg BI Rule
The existing Reg BI rule is not yet a fiduciary standard, but SEC enforcers still refer to it when investigating potential violations in regards to fiduciary activities and relations between clients and advisors.
RegBIDEN: What’s next for Reg BI in the new administration
With Biden taking office in January, many advisors are wondering what the future of Regulation Best Interest looks like. There’s certainly been plenty of speculation on the subject, so let’s take a look at what could change during the transition.
What’s happening in Reg-BI Compliance Court?
With a Republican administration believing in small Federal government, I think it is safe to say that the SEC may defer to States to oversee and enforce Reg-BI’s new standards. With thousands of affected people in the financial services industry, this may make logistical sense. It means that RIA and BDs may experience different levels of scrutiny, depending on where they work.
3 Tricks to Navigating the Admin Panel
Group by the advisor, state or date Hide columns to display the most relevant data Sorting Columns Admin Panel Personalization All of RiXtrema’s products in its software suite have one...Read More