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Top RIA Compliance News Articles for the Week of January 30, 2016

Feb 05, 2016

Our list of the top registered investment adviser (RIA) compliance and regulatory news articles for the week of January 30, 2016.

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser (RIA) compliance and regulatory issues. Check back each week for the latest list of top stories.

Here’s our top investment adviser compliance articles for the week of January 30, 2016:

  1. SEC Plans to Expand Staff to Increase Advisor Examinations (Author- Kenneth Corbin, Financial Planning)

The SEC is planning to expand its staff in order to step up examinations on investment advisers. This increase will come through a combination of new hires and transitioning staff from its broker-dealer examination unit. In total, this is expected to lead to an additional 100 examiners focusing on RIA audits. Despite this significant increase of resources designed to increase the frequency of RIA examinations, the SEC is still expected to move forward with its proposal for third party RIA audits as well.

  1. NASAA Adopts Model Rule to Fight Senior Financial Abuse (Author- Melanie Waddell, ThinkAdvisor)

Earlier this week, the North American Securities Administrators Association (NASAA) released a new model rule designed to protect vulnerable adults from financial abuse. The NASAA model rule applies to adults 65 and older along with those individuals qualified under a state adult protective services statue. As is traditional with NASAA model rules, each individual state will now have the opportunity to use this model rule or its own version to pass new legislation on this topic should it choose to.

  1. What to Do Before, and After, a Cyberattack  (Author- Danielle Andrus, ThinkAdvisor)

Danielle Andrus shares key insights from this week’s panel presentation at the TD Ameritrade National LINC 2016 conference by Brian Edelman and other cyber security experts. During the session on Wednesday, industry experts described best practices for responding to and minimizing the impact of cyber attacks. Check out this article to learn more about how prepare for the inevitable and what to do should an information security breach occur.

  1. SEC Redesigns Adviser Website to Help Investors Research Brokers (Author- Alessandra Malito, InvestmentNews)

The Security and Exchange Commission (SEC) is revamping its public disclosure website that features easier background checks and more convenient access to the latest RIA Form ADV information. It includes a sleeker design and more easily accessible user experience. Ali Malito has the full review.

  1. Adviser Groups Step Up Lobbying as DOL Rule Nears Completion (Author- Mark Schoeff Jr., InvestmentNews)

Mark Schoeff Jr. reports that various broker interest groups, most notably the Financial Services Institute (FSI) which represents the interests of independent broker-dealers, have increased their lobbying efforts in last ditch efforts to stop the proposed Department of Labor (DOL) fiduciary rule. Check out this article to read more about the lobbying groups lining up to oppose the DOL fiduciary rule.                              

Be sure to check back next Friday for next week’s top articles!