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 August 8, 2015:
- 11 Tips for Effective Cybersecurity (Authors- Christopher Quinlan & Emily Westridge Black, ThinkAdvisor)
Cybersecurity has become increasingly important as cyber criminals become smarter. Major security breaches happen every week and investors are starting to feel less protected. Christopher Quinlan and Emily Westridge Black give us tips on how to maintain an effective cybersecurity program. While the article is geared a bit towards larger firms, it’s still a very worthwhile read to firms of all sizes.
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- SEC Must Target Form ADV Changes to Reduce Advisor Costs: IAA (Author- Melanie Waddell, ThinkAdvisor)
The Securities Exchange Commission (SEC) proposed amendments to the Form ADV earlier this summer, which would require advisors to provide more information, including their use of social media and separately managed accounts. Melanie Waddell explains the SEC’s reasoning behind this amendment and the concerns voiced by the Investment Adviser Association during the comment period regarding the potential of disproportionate costs placed upon smaller SEC-registered RIA firms.
- The psychology of regulation: applying nudge theory to compliance (Author- Bill Mulligan, InvestmentNews)
Today, there are more regulations than ever before for financial advisors and in turn, fines have reached record highs. Bill Mulligan explains the “nudge theory” and how RIA firms can now benefit from improved RIA compliance software to “make compliance acts as convenient and simple as possible.”
- If Obama holds firm, here’s what the DOL fiduciary rule will end up looking like (Author- Mark Schoeff Jr., InvestmentNews)
The Department of Labor’s (DOL) fiduciary proposal is in its final stages and has just finished a four day hearing to determine its fate. Mark Schoeff Jr. explains the events of the hearing and what the final fiduciary rule may look like.
Be sure to check back next Friday for next week’s top articles!