Registered Investment Advisers Archives

PTE and IRA Rollover Recommendation Considerations

Posted on September 1, 2022 by admin

U.S. Department of Labor’s (“DOL”) recently published final prohibited transaction exemption regarding investment advice for IRA and ERISA plans (PTE 2020-02). This exemption became effective on February 16, 2021 allowing for a transition period to comply. Key elements include, written acknowledgments of fiduciary status by both the broker-dealer and the representative, disclosure of conflicts of interest and compensation information, the implementation of policies and procedures to mitigate or eliminate conflicts, as well as an annual reporting and certification of compliance. PTE’s conditions related to rollover recommendations went into effect on July 1st 2022. As we have worked with clients on Read more about PTE and IRA Rollover Recommendation Considerations[…]

What’s ‘New’ about the SEC’s New Marketing Rule for Investment Advisers?

Posted on July 29, 2022 by admin

Marketing and advertising in the mid-20th Century was very different then what exists in today’s world of social media. Marketing and advertising are constantly evolving. Today’s social media influencers, hashtags, comments, likes, and posts can all be used for marketing purposes. With this in mind, it makes sense that regulations should evolve as well and not be stuck in the past. In December 2020, the SEC adapted regulations to better align with the 21st Century’s marketing environment. The 1961 Advertising Rule 206(4)-1 2021 combined with the Cash Solicitation Rule206(4)-3 will now be regulated under a single rule referred to as Read more about What’s ‘New’ about the SEC’s New Marketing Rule for Investment Advisers?[…]

NASAA Reveals Top Investor Threats for 2022

Posted on April 22, 2022 by admin

On January 10, 2022 the North American Securities Administrators Association (NASAA) released its annual list of top investor threats for 2022 and urged caution before purchasing popular and volatile unregulated investments – especially those involving cryptocurrency and digital assets. NASAA also announced guidance for investors, including steps to take to protect from fraud in the new year. “The most common telltale sign of an investment scam is an offer of guaranteed high returns with no risk. It is important for investors to understand what they are investing in and with whom they are investing,” said Melanie Senter Lubin, NASAA President Read more about NASAA Reveals Top Investor Threats for 2022[…]

Our Top 5 Blogs of 2021

Posted on January 28, 2022 by admin

MasterCompliance continues to provide clients and the public with guidance on industry focus areas, new rules, compliance foundations, and regulatory priorities. This blog explores our top 5 blogs of 2021. 1. Form ADV Part 2B: Disclosures for Supervised Persons Form ADV Part 2B is a brochure supplement that must contain certain information about specific individuals, acting on behalf of the investment adviser, who actually provide the investment advice and interact with the client. The brochure supplement is also a narrative format in plain English and includes six required disclosure categories, with a seventh for advisers registered or are registering with Read more about Our Top 5 Blogs of 2021[…]

Upcoming Payment Deadlines for 2022 Renewals

Posted on November 19, 2021 by admin

This is a reminder that December 13, 2021, is the payment deadline for Broker-Dealer, Investment Adviser Firm, Agent and Investment Adviser Representative, and Branch Renewals for 2022. Firms that miss this deadline can still make payments until 6 p.m. ET on Dec. 26, 2021, but they will be subject to a late fee. If payment is not received by Dec. 26, 2021, firms risk becoming ineligible to do business in jurisdictions where their registrations are not renewed. FINRA’s Renewal Program supports the collection and disbursement of fees related to the renewal of broker-dealer (BD) and investment adviser (IA) registrations, exempt Read more about Upcoming Payment Deadlines for 2022 Renewals[…]

DOL Delay: IRAs and Prohibited Transactions

Posted on November 12, 2021 by admin

Earlier this year, the U. S. Department of Labor (DOL) published their final prohibited transaction exemption regarding investment advice for ERISA plans and IRAs (PTE 2020-02). This exemption is currently effective but allowed for a transition period ending 12/20/2021 for Firms to comply. The DOL recently announced a temporary enforcement policy on the new rule. After listening to the feedback of many financial institutions that doing an off-cycle, mass mailing is very cost prohibitive, they agreed to extend the implementation start date to January 31, 2022. The DOL will not pursue claims against investment advice fiduciaries who are working diligently, Read more about DOL Delay: IRAs and Prohibited Transactions[…]