FSI web conferences are available on demand exclusively to FSI members.
Our panel of experts provided real life scenarios related to recent branch exam deficiencies and cited by state and federal regulators, as well as tips that advisors and supervisors can use to proactively prepare for branch exams.
Our panel rendered their expertise on the most current information regarding ERISA/DOL impact analysis and action items.
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, approximately 4,100 Registered Investment Advisers (RIAs) with assets under management of less than $100 million had to ‘switch’ from federal to state regulation by July 21, 2011. Our discussion addressed how the ‘switch’ would affect financial advisors and how you could prepare for the change.
This web conference covered items such as the guidance provided to investment advisors on their fiduciary responsibilities through the 1940 Investment Advisors Act, state statutes, and legal decisions relating to fiduciary duty. Kowalski and Wong also discussed the future direction of the industry and fiduciary responsibility, and some of the more interesting claims brought and the outcome of those cases.
Over the past several years, FINRA has required increased disclosure of complaints and arbitrations, and drastically limited the circumstances in which a representative can challenge disclosures that are based upon meritless allegations.
The SEC has just approved amendments to Form ADV Part 2 which will overhaul adviser disclosure requirements and delivery methods. The new requirements call for the advisors disclosure document to be written in a narrative, plain-English format and also impose a new type of disclosure document — the brochure supplement — for "advisory personnel."
Congress passed a sweeping overhaul of America’s financial regulatory system. The 2,300 page legislation is intended to combat deceptive practices that prey on consumers, illegal trading including proprietary trading, and corporate collapse that could lead to another Fannie Mae or Freddie Mac fallout.
As a consequence of the Madoff scandal, the SEC has indicated that custody of client assets will be a top priority for SEC examiners. One of the key areas of focus for examiners will be compliance with recent amendments to the Advisers Act Custody Rule (Rule 206(4)-2 ), which went into effect recently.
Our presentation included a review of the current requirements of FINRA Rule 2330, which governs firms' responsibilities regarding recommended purchases and exchanges of deferred variable annuities, provide guidance on evaluating and applying techniques to ensure compliance with annuity suitability requirements, and discuss state insurance suitability requirements.
FSI 2010 Law Firm sponsor Briggs and Morgan and FSI surveyed FSI member firms about their views concerning the effectiveness of FINRA arbitration of customer disputes. Following the survey, a white paper entitled The Efficacy of Securities Arbitration And Proposals for Change was jointly published, analyzing the survey results in the context of current regulatory developments.
Fallout from the recent private placement scandals has afflicted the independent broker-dealer community. We examined the factors that led to these scandals and the red flags that regulators have identified as having been purportedly missed by certain broker-dealers.
Our experts address regulatory and legislative concerns impacting both independent broker-dealers and independent financial advisors, including the current state of bills to overhaul the financial regulatory system and their impact shareholders.
The past couple of years have seen an explosive growth regarding the use of social media (such as Facebook, Twitter, and LinkedIn). Independent broker-dealers and financial advisors are considering how best to leverage the powerful marketing potential of social media while dealing with the myriad compliance issue that such communications face.
If you have any inquiries or questions regarding FSI membership, please contact:
Michelle AllgauerDirector of Member Engagement202-204-6422email Michelle Allgauer
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