Compliance Solutions for Investment Advisers

Monthly Archives: December 2012

Super Account Administrator

Important News from FINRA: As you may be aware, one of your responsibilities as your firm’s Super Account Administrator (SAA) is to complete the annual FINRA Entitlement User Accounts Certification Process. This certification process–which for 2013 begins Jan. 14 and ends Feb. 13–requires a review of your firm’s user accounts and appropriate action to ensure

Skin in the Game

Because I receive a live feed from the SEC, I get between 6 and 12 SEC press releases every day. Most deal with actions brought by the SEC against a variety of individuals and firms and most are, quite frankly, not worthy of further comment. But once in a while the SEC brings an action

SEC in Upheaval – Slows Pace of Audits?

Robert Khuzami, director of the SEC’s Division of Enforcement, is reportedly leaving. His departure would mark the fourth major SEC staff exit in the last few weeks, following the heads of the Divisions of Corporation Finance and Trading and Markets and the agency’s general counsel. We have heard that the upheaval at the top has resulted

SEC Issues Muni Bond Investor Bulletin

The Securities and Exchange Commission today issued an Investor Bulletin to help purchasers of municipal bonds better assess the bonds’ credit risks.  The bulletin provides several factors for investors to consider including the type of the bond, the purpose and nature of the financing, the overall financial condition of the issuer, and the sources of funds to pay

Compliance Alert! Wire Fraud Scam

Dear Compliance Professional, We have just been notified by one of our clients of a wire fraud scam and wanted to bring it to your immediate attention. A cyber criminal created a fake client email message in an attempt to trick the adviser into wiring cash out of one of their client’s online investment accounts.