Form CRS Updates in 2020 (Part 1)

Form CRS Updates in 2020 (Part 1)

On October 8th, the SEC release another update to the FAQ for Form CRS, this time focusing on the Disciplinary History section. After so many updates, it is a good idea to go back through to refresh your memory.

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Custody of Cryptocurrency

UTMA and UGMA Custodial Accounts

Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA) custodial accounts provide a way to transfer property to a minor beneficiary without the need for a trust. The custodian then must transfer the ownership of this account to the minor at the age of majority.

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Compliance Program

Tools to Conquer Compliance Program Challenges

Compliance responsibilities grow with every passing year. New regulatory mandates, examination priorities, trends in regulatory enforcements, changes in business, personnel changes, adding new business lines. These are only a few of the many considerations of which compliance professionals must be aware in order to run an effective compliance program amidst the ever-evolving landscape. Read More…

Form CRS Updates in 2020 (Part 2)

Investment Advisers Act: Know the Rules or Pay the Price

Knowing firm requirements as set forth in the Investment Advisers Act is essential, and learning from the mistakes of others in this area can be a valuable and motivating tool for striving for compliance in the financial services industry. In an atmosphere where Chief Compliance Officers (CCO) are being added to disciplinary proceedings, learning and taking immediate corrective action is the name of the game. No longer is the firm the only name blasted across SEC complaints; regulators will ensure that individuals are equally held responsible. Read More…

Compliance program

Why Small Firms Need Compliance Program Assessments

With the rise in new regulations, small firms generally experience some of the greatest challenges evolving their business to meet these new demands. Critical focus areas constantly expand related to cybersecurity, senior investor protection, supervisory controls, succession planning, and human capital. With this in mind, small firms need to ensure that they have a solid foundation in place for their compliance program. But why is it important for small firms especially to perform occasional assessments of their compliance efforts?

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Outsourced Vendors

Best Practices for Outsourced Vendors

Does your firm know who its key outsourced vendors are? Does your firm perform ongoing due diligence that includes an assessment of risks? The answers to both questions may involve a huge undertaking for small firms that have limited resources. Read More…