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Webinar Q&A

Q&A: DOL’s Fiduciary and Retrospective Review Expectations

InvestorCOM’s webinars provide an excellent forum in which to learn about the latest regulatory requirements from industry experts. Our November 1 webinar, “DOL’s Fiduciary and Retrospective Review Expectations”, featured industry experts from DFPG Investments, Katten, Faegre Drinker and Oyster Consulting. Unfortunately, we ran out of time before the speakers could address every question from the […]

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Measuring the Impact of Reg BI

Measuring the Impact of Reg BI’s Best Interest Requirement

Since coming into force on June 30, 2020, broker-dealers have struggled to define and demonstrate how Reg BI’s Care Obligation assessment of reasonably available alternatives (RAA) is improving client outcomes. With a couple of years of data available, InvestorCOM conducted an analysis to understand if best interest can be measured, and more importantly if it […]

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PTE 2020-02 Recap and What We’ve Learned to Date

PTE 2020-02: Recap and What We’ve Learned to Date

InvestorCOM recently chatted with David Porteous from Faegre Drinker, Mitchel C. Pahl from Katten, Craig Watanabe from DFPG Investments, and Ed Wegener from Oyster Consulting LLC to discuss the PTE 2020-02 retrospective review process, how to meet the retrospective review requirements, and how the DOL’s requirements correlate with the SEC’s expectations.  —  Parham Nasseri [PN]: […]

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PTE 2020-02 Retrospective Reviews

PTE 2020-02 Retrospective Reviews

Requirements of PTE 2020-02 To provide perspective on the annual retrospective review for exemptive relief under PTE 2020-02 (“the exemption”), it is helpful for context to review a summary of all the sections of the exemption: Impartial Conduct Standards Best Interest Reasonable Compensation Best Execution No Misleading Statement Disclosure Policies and Procedures Annual Retrospective Review […]

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2 Years In Reg BI Exams and Regulatory Overview sm

2 Years In: Reg BI Exams and Regulatory Overview

InvestorCOM recently chatted with Issa Hanna from Eversheds Sutherland, Tom Selman from Scopus Financial Group, Ben Westin from Regulus Financial Group, and Randy Barnes from InvestorCOM to discuss the Regulation Best Interest (Reg BI) journey and the SEC’s strategic priorities.  == Parham Nasseri [PN]: Tom, as a former executive heading up regulatory policy at FINRA, […]

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Reg BI Compliance Toolset Will You Use a Shovel or a Keyboard

Reg BI Compliance Toolset: Will You Use a Shovel or a Keyboard?

“Really digging in.” That was the phrase used by Ms. Nekia Hackworth Jones, Esq. at the recent SIFMA C&L Regional Seminar in Charlotte, North Carolina to categorize how the SEC is approaching their upcoming Regulation Best Interest (Reg BI) examinations.  The implication is clear – examiners are going to go beyond the cursory review of […]

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How to Involve (But Not Overwhelm) Advisors in Your Product Due Diligence Processes

How to Involve (But Not Overwhelm) Advisors in Your Product Due Diligence Processes

In a recent blog article, we presented an analysis of the magnitude and volume of significant changes to Canadian investment products over a 12-month period. While the data indicated that meeting the Client Focused Reforms (CFR) Know Your Product (KYP) obligations using a manual approach would be impossible, meeting the regulation is manageable provided the […]

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Investment in Digital Solutions is an Insurance Policy

Investment in Digital Solutions is an Insurance Policy

Every business carefully monitors its insurance coverage and cost, which can be significant. Premiums vary based on insurance product, coverage and risk. I recently reviewed a couple of our insurance policies — for cyber-risk and life insurance — and the premiums were about 0.5% of policy coverage. Imagine if you could buy insurance that would […]

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CFR Compliance An Analysis of Significant Changes to the Mutual Fund and ETF Landscape sq

CFR Compliance: An Analysis of Significant Changes to the Mutual Fund and ETF Landscape

The Client Focused Reforms (CFRs) introduced a higher standard of conduct for wealth management firms and financial advisors, with the goal of putting “investors first.” The regulations explicitly outline a set of enhanced Know-Your-Product (KYP) standards, requiring firms to assess, approve and monitor the securities made available to clients. To help support InvestorCOM’s wealth management […]

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Reg BI Recent Cases: SEC and FINRA Perspectives

Reg BI Recent Cases: SEC and FINRA Perspectives

InvestorCOM spoke with David Porteous, Partner at Faegre Drinker and Mitchell Atkins, Principal at FirstMark Regulatory Solutions to discuss the SEC’s and FINRA’s perspectives on the recent Reg BI cases.   Parham Nasseri [PN]: With all the rhetoric we’ve seen in recent cases, specifically on the Reg BI front, what do you see as the […]

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