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 […]
Read More
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 […]
Read More
Travis Champion is an accomplished business leader who has been in the wealth management industry for over 20 years. Toronto, ON, February 16, 2020 – InvestorCOM, a leading provider of compliance software solutions for the wealth management industry is very pleased to announce the appointment of Travis Champion as Vice-President, Business Development. The increasing regulatory […]
Read More
With more than six months since the Regulation Best Interest compliance deadline, a heightened sense of anticipation is brewing around what wealth firms should expect in 2021. In retrospect, the Reg BI journey thus far has been riddled with uncertainty around what steps B-Ds needed to take to ensure compliance. During this period, some firms […]
Read More
It has been six months since Reg BI’s best interest standard went into effect. Initially, the regulators required that firms make “good faith” and reasonable efforts to ensure the principles of the regulation were in place. However, the SEC recently shifted gears. Starting January 2021, the SEC will move beyond good faith expectations and expand […]
Read More
Given the winds of political change and the SEC’s October 26 roundtable on Regulation Best Interest, regulatory and industry experts from Scopus Financial Group and Celent provide an insightful conversation on: The macro outlook: The impact of political change on Reg BI and the wealth management industry Industry responses to Reg BI and common […]
Read More
Meeting Reg BI’s care obligations may require financial advisors to consider one million data points per day Since the introduction of Regulation Best Interest (Reg BI) by the SEC earlier this year, there are several important changes for Broker-Dealers (B-D’s) and their representatives. The overarching goal of Reg BI is to enhance the broker-dealer standard […]
Read More
With Reg BI now in effect, broker-dealers have taken steps to achieve varying degrees of compliance. While there has been ample time and regulatory guidance to mitigate implementation challenges, sustained compliance with Reg BI raises a host of questions. The SEC has stated that good faith efforts to comply will be recognized. However, as the […]
Read More
With the introduction of Reg BI (Regulation Best Interest), wealth firms will be expected to implement the most significant wealth compliance reform in decades. The Reg BI implementation deadline in the US has recently passed on June 30, 2020. While most firms have met basic compliance requirements, many have deferred compliance technology decisions as the […]
Read More
With Reg BI now in effect, broker-dealers and their representatives will need to illustrate how they are complying with the SEC’s Regulation Best Interest (Reg BI). One of the requirements dealers should pay close attention to is the Care Obligation and the consideration of Reasonably Available Alternatives (or RAA) when making a recommendation. What’s Changed? […]
Read More
