by Ara Jabrayan | May 13, 2022 | 12b-1 Fees, Best Execution, Books and Records, Conflicts of Interest, Duty of Care, Fiduciary Duty, Investment Adviser Representative, Investment Advisers Act, Investment Advisers Act - Section 206(2), Investment Advisers Act - Section 206(4), Investment Advisers Act - Section 206(4)-7, policies and procedures, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC Investment Adviser Compliance, Share Class Selection, Wrap Program
On April 27, 2022, the SEC announced that it settled charges against a Registered Investment Adviser (RIA) in Downers Grove, Illinois. The SEC alleged that the RIA breached its fiduciary duty to advisory clients by failing to: Fully disclose its conflicts of interest;... by Ara Jabrayan | Apr 25, 2022 | Account Recommendations, Dually Licensed, Fiduciary Duty, Investment Advisers Act, policies and procedures, Registered Investment Advisers (RIAs), Regulation Best Interest (BI), Retail Investors, RIA Compliance, RIA Compliance Policies, SEC Investment Adviser Compliance, SEC Staff Bulletin, Standards of Conduct
The SEC’s Division of Examinations (Division) recently announced its priorities for the 2022 fiscal year. Not unexpectedly, as part of the Division’s focus on protecting retail investors, examinations will scrutinize whether firms are satisfying their obligations... by Ara Jabrayan | Oct 8, 2021 | Department of Labor, ERISA, Fiduciary Duty, Investment Adviser Representative, Investment Advisers Act, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC Rules, Solicitation, Uncategorized
On December 18, 2020, the U.S. Department of Labor (DOL) published its final prohibited transaction exemption addressing investment advice fiduciaries to Employee Retirement Income Security Act of 1974 (ERISA) plans and individual retirement accounts (IRAs). RIA... by Ara Jabrayan | Sep 28, 2021 | Cybersecurity, Investment Adviser Representative, Investment Advisers Act, Registered Investment Advisers (RIAs), Regulation S-P, RIA Compliance, RIA Compliance Policies, Safeguards Rule, SEC Cybersecurity, Uncategorized
Rule 30(a) of Regulation S-P, better known as the Safeguards Rule, requires firms to adopt written policies and procedures to address the administrative, technical, and physical safeguards that are necessary to protect customer records and information. On August 30,... by Ara Jabrayan | Jul 28, 2021 | Division of Examinations, FORM CRS/Form ADV Part 3, Registered Investment Advisers (RIAs), retail investor, RIA Compliance, RIA Compliance Policies
On July 26, 2021, the SEC announced that 21 Registered Investment Advisers (RIAs) settled charges alleging that they failed to file and deliver their client relationship summaries, known as Form CRS, in a timely manner. Form CRS is also frequently referred to as Form... by Ara Jabrayan | Jul 27, 2021 | Division of Examinations, Examination Priorities, FORM CRS/Form ADV Part 3, Investment Adviser Representative, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC NEWS, Uncategorized, Wrap fee
Wrap fee programs have been on the SEC’s radar for quite a while. When the SEC published its annual examination priorities in 2017, 2018, and 2019, wrap fee programs were mentioned as putting investors at risk. On July 21, 2021, the SEC’s Division of Examinations...
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