by James Pfeiffer | Last updated Aug 23, 2019
Asset Transmit Rules Compliance One of our clients came to us with a problem; how to meet asset transmit rules for managed money and mutual funds. Our solution: a workflow module for tracking, monitoring, and reporting on the location and status of customer funds. We...
by James Pfeiffer | Last updated Aug 15, 2019
Spreadsheet Dependency Dependency on spreadsheets exposes an investment services firm to risk, especially when they rely on spreadsheets for their business-critical functions (such as managing their incentive compensation program). If spreadsheets play an integral...
by James Pfeiffer | Last updated Jul 31, 2019
The Financial Industry Regulatory Authority (FINRA) regulates 3,600 member firms and nearly 630,000 registered reps and conducts over 2000 member firm examinations each year. FINRA conducts routine examinations of broker-dealers checking for compliance with industry...
by James Pfeiffer | Last updated May 15, 2019
Background In January of this year, FINRA launched an initiative to curb the sales of high cost 529 plan funds to investors. Specifically, they are reviewing the share classes recommended to these investors and if these recommendations met the suitability standard...
by James Pfeiffer | Last updated Jul 31, 2019
BACKGROUND In 2018 FINRA introduced the trusted contact rule. It requires that broker-dealer firms make reasonable efforts to identify a “trusted contact,” a person to contact if the firm has a concern that the client is incapacitated or is the target of a scam. It is...
