Category Archives: Uncategorized

Cybersecurity Training Options

Cybersecurity is once again on the SEC’s OCIE exam priorities list.  There are many things that a firm can do to counter the concerns of Cybersecurity.  One of the most difficult items to counter is an employee and their inadvertent … Continue reading

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SEC Fines and Bars CCO for Ignoring Compliance Problems

from Cipperman Compliance Services The SEC fined and barred an adviser’s Chief Compliance Officer from acting in a compliance or supervisory capacity because of his failures to remedy compliance deficiencies. The adviser hired an outside compliance consultant which recommended 59 … Continue reading

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Three Firms Fined for Marketing Hypothetical Third Party Performance

from Cipperman Compliance Services, LLC The SEC censured and fined three more investment advisers in connection with marketing F-Squared’s misleading hypothetical performance information. One of the firms agreed to pay $8.75 Million in disgorgement, fines, interest and another agreed to … Continue reading

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Renewal Fees

Preliminary Renewal Statements are available on the IARD.  This statement includes the fees due to states for 2018.  These fees are due whether you are a state or an SEC advisor. Payment is due on or before December 18, 2017. … Continue reading

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DOL Fiduciary Rule Delay is Official

The 18-month from the DOL is now official.  The Transition Period for the Fiduciary Rule’s Best Interest Contract Exemption and the Principal Transactions Exemption will move from January 1, 2018 to July 1, 2019. During the extended period, fiduciary advisors … Continue reading

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ADV Part 1 Changes

As many of you are aware, the U.S. Securities and Exchange Commission (“SEC”) issued a final rule in August 2016, which significantly expands the information required in Form ADV Part 1. The compliance date for the rule is October 1, … Continue reading

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Morningstar Introduces Best Interest Scorecard

The consolidated proposal system, available in Morningstar® Advisor Workstation(SM), represents company’s ongoing efforts to help advisors serve clients’ best interests CHICAGO, Oct. 26, 2017 /PRNewswire/ — Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced the … Continue reading

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