Is Your Advertising Prohibited?
Under Rule 206(4)-1(a)(1) of the Investment Advisers Act of 1940, advisors may not use client testimonials, directly or indirectly, in their advertising.
Advisors, Own Your Compliance
It has become increasingly more apparent that the SEC's position is that a firm must show it “owns” its compliance program.
How to Fix the SEC Exam Process
The Securities and Exchange Commission's examination process is broken — always has been and unfortunately continues to be.
SEC Clarifies RIAs’ Cybersecurity Obligations
In April 2014, the SEC released a Risk Alert indicating it would focus on cybersecurity. Almost 18 months later, many RIAs are still confused.
Treasury Considers Anti-Money Laundering Regs
Anti-money laundering requirements — are they coming soon to an advisory firm near you? Maybe, perhaps as soon as next year.
A Message From the SEC—Listen Up!
A recent settlement with a firm in Chicago that had an untrained CCO highlights the priority advisors must give compliance in their firms.
SEC Proposes Significant Changes to Form ADV Part 1
Just when you thought it was safe to go outdoors, the Securities and Exchange Commission strikes again.
Does Your CCO/Senior Management Relationship Need Improvement?
The SEC has made clear that the role is one of senior firm management.
Are Your ‘Best Practices’ Good Practices?
Tom Giachetti despises the term “best practices,” saying it is abused by clueless consultants looking for one-size-fits-all solutions.
5 Key Issues for a Succession Plan
In recent statements, SEC Chairwoman White has indicated that some requirement for succession planning will be incorporated into the much-anticipated uniform fiduciary duty rule.