Insights
SEC Tightens Record-Keeping Requirement on RIAs Reporting Performance
The amendments to Investment Advisers Act Rule 204-2 will require advisers to maintain additional records related to the calculation and distribution of performance information.
- SEC
- Compliance
- Performance
MiFID II for Asset Managers: Communications Record Keeping
Communications record keeping obligations which include phone taping, are likely to prove particularly challenging when it comes to the cost of compliance and complexity of systems requirements.
- Compliance
5 Ways to Meet Regulators' Expectations Regarding Electronic Communications
The electronic communication mediums that investment advisers use to conduct business continue to evolve, posing a challenge to the compliance community’s ability to retain and adequately supervise
- Compliance
ACA and Ashland: Why We’re Excited to be the Best GIPS Compliance Verification and Performance Team in the World
Earlier this month, ACA announced that it is set to acquire Ashland Partners & Company, LLP's GIPS compliance verification and performance practice. When this transaction closes in June, ACA Performance Services will offer the most experienced team of GIPS compliance verifiers in the world, servicing over 1,000 clients annually, including 49% of the top 100 managers of institutional assets worldwide (as determined by Pensions & Investments magazine).
- Performance
Anticipated Behavior Profile
Financial institutions (“FI’s”) are required by Anti-Money Laundering (“AML”) regulations to perform risk-based due diligence for their customers and prospective customer.
- AML and Financial Crime
Calculating Assets Under Management vs. Assets Under Advisement
The SEC has been paying close attention to discrepancies in Form ADV filings, specifically reviewing assets under management. When Annual Updates are due, it’s important to pay close attention to how you calculate your regulatory assets under management (RAUM).
- Compliance
- SEC
Continuing Education – Regulatory Element vs. Firm Element
FINRA Rule 1250 requires registered persons to participate in Continuing Education (“CE”), with both Regulatory Element and Firm Element training. We break down these categories and how to differentiate them.
- Compliance
Branching Out – Office Registration
When opening a new office in the securities industry, FINRA’s Rule 3110(f) outlines the role of each associated office and registration requirements for each office type.
- Compliance
New FINRA Rule 3210 - Accounts at Other Broker-Dealers and Financial Institutions
FINRA has received approval to update the requirement for disclosure and review of employee brokerage accounts. On April 13, 2016, the U.S. Securities and Exchange Commission (“SEC”) approved Financial Industry Regulatory Authority (“FINRA”) Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions) to replace current National Association of Securities Dealers (“NASD”) Rule 3050 (Transactions for or by Associated Persons). The effective date for this rule has not yet been determined.
- Compliance