Text messaging. We’re all doing it. It’s not only easy to do, but also a highly effective and efficient way to communicate. According to a survey conducted by Smarsh, a firm specializing in cloud-based archiving solutions, text messaging is the most requested channel for business use by employees in financial firms, up over 20 percent…

2016 was a year of increased regulations and record enforcement actions against Investment Advisors/Investment Companies and Broker Dealers. The SEC brought 868 enforcement actions and assessed more than $4 billion in disgorgement and penalties. FINRA assessed $145 million in fines and $41 million in restitution.  Promises of deregulation and a new administration in the White…

With the holiday season upon us, now is a good time to remind your employees of your Gifts and Entertainment (“G&E”) Policy and how to avoid conflicts of interest. Although the SEC has advised investment advisers to set “limitations on acceptance of gifts”, it has offered no formal guidance with respect to specific threshold dollar…

Does your firm routinely solicit investors and/or co-investors? Does it market its funds to endowments, pension funds and high net worth individuals?  Does your firm advise companies on mergers and acquisitions and debt offerings? If your firm receives compensation for any of these services, then you could be engaging in broker-dealer activities for which registration…

FINRA shares many of the same 2016 priorities as the SEC with the notable addition of examining firm culture. Each of FINRA’s regulatory priorities can be broken down into the following five categories: (1) protecting the individual investor; (2) protecting the industry from market-wide risks; (3) using data analytics to identify signals of potential illegal…

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