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Reg BI Enforcement Is Ramping Up: Are You Ready?

Prior to the Reg BI implementation deadline, many saw the principled-based regulation as the most significant enhancement of conduct standards since the passing of the Securities Act. Fast forward to today, and the Securities and Exchange Commission (SEC) has conducted several fact-finding exercises, onboarded key personnel and begun to take noticeable enforcement action. In short, […]

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How Financial Professionals are Thriving under Reg BI

Over the past decade, the wealth management industry has grappled with a fair share of regulatory change. For many, the mushrooming regulatory change is no longer an exception, but an expectation. In the past year, many wealth managers and financial professionals were focused on meeting the requirements of Regulation Best Interest (Reg BI). In summary, […]

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KYP and the Power of the Peer

Why segmenting product shelves into peer groups can help meet regulatory challenges The requirement for advisors to have enhanced KYP processes is ramping up with the client-focused reforms. Beginning in December, all investment recommendations made by an advisor must be filtered through a lens that considers reasonably available alternatives. Furthermore, this analysis must be documented […]

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CFR: Implementing KYP – Webinar Q&A

Recently, InvestorCOM hosted a webinar with “Client Focused Reforms: Implementing KYP” featuring Rebecca Cowdery and Michael Taylor from BLG, Richard Wylie from Assante Wealth Management, and Parham Nasseri and Dave Carr-Pries from InvestorCOM where they discussed approaches firms can take to meet their KYP obligation. There was tremendous interest in this topic and we ran […]

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Reg BI: A Dialogue with Issa Hanna, Eversheds Sutherland

Issa Hanna, Counsel at Eversheds Sutherland recently spoke with InvestorCOM’s Parham Nasseri to discuss Regulation Best Interest (Reg BI), specifically: What we can take away from the initial round of Reg BI exams. What hints the regulators have given about how they plan to approach the next round of Reg BI exams. Why regulators are […]

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Reg BI: A Dialogue with Tom Selman, Scopus Financial Group

Recently, InvestorCOM had the pleasure of speaking with Tom Selman, Founder of Scopus Financial Group and former Executive Vice President of FINRA’s Regulatory Policy Division.  In this dialogue, Tom discusses the emergence of Reg BI, what we’ve learned to date, and what firms should focus on.   ***   Parham Nasseri (PN): Tom you’re a […]

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The ROI of Compliance Technology

Under the Securities and Exchange Commission’s (SEC) Regulation Best Interest (Reg BI) rule, broker-dealers (B-Ds) are mandated to act in the clients’ best interest. To do this, they must adhere to their obligations of disclosure, care, conflicts of interest, and compliance. With the regulations now in effect, B-Ds have taken steps to achieve various degrees […]

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Materiality Index: Monitor for Significant Change

The Client Focused Reforms and the introduction of the new KYP requirements place an explicit obligation on firms to reasonably assess, approve and monitor the securities (or products) made available to clients for significant change. Given the principles-based nature of the regulatory expectations, the ‘reasonable’ actions taken by each firm will depend on a number […]

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A Summary: SEC’s 2021 Examination Priorities and Reg BI

On March 3, the SEC’s Division of Examinations (DOE) released its eighth annual publication, highlighting the 2021 examination priorities. The report outlined the key risks, trends, and priorities to improve compliance and enhance investor protection. While much of the priorities resembled last year’s report, the 28 pages serve as a healthy reminder for those functioning […]

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Debra Foubert, OSC Discusses the Client Focused Reforms

Over the past twelve months, InvestorCOM has hosted several forums for firms to exchange ideas on how they plan to meet the new KYP and enhanced suitability requirements of the Client Focused Reforms (CFRs). These discussions have provided many of our clients with insights on how to implement the requirements with confidence. Recently, Debra Foubert, […]

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