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Top RIA Compliance News Articles for the Week of October 10, 2015

Oct 16, 2015

Our list of the top registered investment adviser (RIA) compliance and regulatory news articles for the week of October 10, 2015.

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 October 10, 2015:

  1. RIA Industry Still Fearful of FINRA Incursion (Author- Kenneth Corbin, FinancialPlanning)

Many have expressed concerns about the Financial Industry Regulatory Authority (FINRA) becoming an RIA industy regulator, and this issue came to a head last week at the TD Ameritrade Institutional’s advocacy summit. FINRA has denied these claims, but has also been open about their concern over the perceived gap in the regulatory oversight of advisors. Kenneth Corbin reports on the prospect of third party RIA examinations and other options floating around to solve this problem.

  1. Regulators target free lunches for elderly clientele (Author- Mark Schoeff Jr., InvestmentNews)

For some brokers and advisors, a popular method of attracting new clients is by hosting free lunch seminars. The Securities and Exchange Commission (SEC) has found a strong correlation between these free lunch seminars and the sale of high-commission products. Furthermore, the agency notes that these seminars tend to attract more easily-influenced senior citizens, making it a cause for concern. Mark Schoeff Jr. gives us the details of what regulatory authorities are doing to stop elder financial abuse.

  1. For Compliant Advisors, Known (and Unknowable) Unknowns (Author- Melanie Waddell, ThinkAdvisor)

With the ever-changing rules and regulations in the financial industry, staying compliant is easier said than done. On top of trying to keep up with all of the regulatory authorities, issues like the fiduciary rule, CCO liability, and anti-money laundering rules are causing more frustration and confusion in the financial world. Melanie Waddell takes a look at what we know about the rules currently in the pipeline, and the impact they may have on the industry.

  1. Should RIAs Get More Involved in Washington? (Author- Kenneth Corbin, FinancialPlanning)

Following the recent release of TD Ameritrade’s “advocacy action tool,” the firm is urging advisors to get involved in the issues that plague advisors. The issue at hand, specifically, is the lack of advisor examinations. Kenneth Corbin explains what TD Ameritrade is trying to accomplish, and how advisors can make a difference.

  1. FINRA Head Calls for Better Coordination Between Regulators (Author- Andrew Welsch, FinancialPlanning)

CEO of FINRA, Richard Ketchum voiced his concerns about regulators duplicating and overlapping each other’s efforts. Ketchum also stated that he is interested in seeing how regulators’ use of big data will play out in the next 5 years.  Andrew Welsch reports on Ketchum’s recommendations for a more efficient regulatory environment.

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