The Compliance Digest

Get expert compliance tips and up-to-date regulatory news.

SEC Launches Investor Protection Search Tool

Move over BrokerCheck – the SEC has recently launched an online search feature that enables investors to research whether the person trying to sell them investments has a judgement or history of enforcement actions. Read More

Municipal Advisor Charged with Fiduciary Violation

Earlier this month, the SEC announced it charged a registered municipal advisor and its owner with defrauding their client, a Texas school district, in connection with multiple municipal bond offerings. Read More

Top Six Fee/Expense Compliance Issues for RIAs

The SEC’s exam division recently released a Risk Alert detailing the top six compliance failures relating to fees and expenses charged by investment advisors, as identified through client deficiency letters. Read More

CCO Barred for Soliciting Backdated OBAs & PSTs

The sanction was based on findings that the CCO directed a registered representative of his member firm to solicit backdated outside business activity and private securities transaction forms and then submitted the forms to FINRA examiners without disclosing the backdating of the forms. Read More

FINRA Pressed for Sexual Harassment Data at Firms

Senator Elizabeth Warren wants regulators to make sure Wall Street isn’t dodging the #MeToo movement. Last month, the Massachusetts Democrat and two other senators asked FINRA and the SEC for data on the prevalence of sexual harassment abuse in the industry. Read More

Top Five FINRA Fines from 2017

While fines issued by FINRA may have dropped significantly in 2017, according to Eversheds Sutherland’s annual report, 2017 was a record shattering year for restitution, resulting in the fourth highest total sanctions assessed by FINRA over the past 10 years. Read More

Three Important Training KPIs You Should be Tracking

In this blog, we’ll look at three key performance indicators (KPIs) that can provide data to back up the value of your training program. Read More

Complying with the MSRB’s New CE Requirement

To assist firms in complying with the MSRB's new continuing education regulation, provided is a brief overview of the newly enforced rule, how it compares to FINRA’s Firm Element requirement and best practices to comply. Read More

What are the FINRA Firm Element Requirements?

Firm Element Continuing Education: who needs it? Why do we need it? And what’s involved in the training process? These are the common questions that broker-dealers deal with on an annual basis. Read More

SEC Exam Priorities to Focus on MSRB/FINRA

The SEC's Office of Compliance Inspections and Examinations (OCIE) has published its 2018 examination priorities. To no one’s surprise, it will continue to focus on the protection of retail investors and ensuring that registrants are appropriately disclosing or resolving conflicts of interest. Additionally, the OCIE will pay particular attention to developments in cryptocurrencies, initial coin offerings (ICOs) and the oversight of FINRA and MSRB firms. Read More