On March 3, 2021, the US Securities and Exchange Commission (SEC) Division of Examinations announced its examination priorities including a greater focus on Regulation Best Interest (Reg BI). Reports from October 2021 suggest the SEC is making good on its promise by sending a large number of broker-dealers Reg BI exam deficiency letters. Reg BI […]
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The window for firms to meet compliance for PTE 2020-02 is getting shorter. In October 2021, the DOL stated that all proper processes need to be in place by January 31, 2022 and documentation and disclosure by June 30, 2022. InvestorCOM hosted a roundtable event “Preparing for PTE 2020-02” which facilitated a collaborative discussion with […]
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December 20 is just around the corner, which means time is quickly running out to meet compliance for PTE 2020-02. In preparation for the looming deadline, InvestorCOM recently hosted a roundtable event “Preparing for PTE 2020-02” to address the industry’s questions and concerns, and to share approaches firms are taking to meeting compliance. One interesting insight […]
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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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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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With Reg BI examinations and enforcement actions expected to increase in 2021, firms are looking to meet the Care Obligation’s requirement of assessing “reasonably available alternatives”. In this on-demand webinar, our panel of experts will take a deeper dive into a consistent and repeatable process for assessing costs and a reasonable range of alternatives at […]
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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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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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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 […]
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