Still No Clarity on Supervisory Responsibility

posted in: Compliance | 0

An order by a divided Commission, late Thursday, ended the agency’s controversial action against Theodore Urban, once general counsel of the former Ferris Baker Watts LLC, a Washington, D.C.-based brokerage and investment bank, now part of RBC Wealth Management.  See … Continued

A Great Quote

posted in: Compliance | 0

“Not all compliance failures result in fraud, but many frauds take root in compliance deficiencies,” said Robert Khuzami, Director of the SEC’s Division of Enforcement.

The States Are No Pushovers

posted in: Registration & Licensing | 0

For advisers transitioning to state registration, be aware that states, much like the SEC, has enforcement divisions and brings enforcement actions that result in fines. Here is one from Connecticut: Morgan Asset Management, Inc. (IARD # 111715) and Morgan Keegan … Continued

Registration Transition News – Fee Waivers

posted in: Registration & Licensing | 0

At least a little bit of good news for transitioning advisers . . . The following states have waived registration fees for transitioning advisers that are currently notice filed in the state: Alabama, Arkansas, Colorado, DC, Georgia, Idaho, Illinois, Iowa, Kentucky, Maryland, Michigan, Massachusetts, Minnesota, Mississippi, New Hampshire, … Continued

Compliance Alert! Social Media

posted in: Advertising & Marketing, Alert! | 0

Dear Compliance Professional, Rarely do we see the SEC Office of Compliance Inspections and Examinations issue a National Examination Risk Alert. So when they do, we pay particular attention. Last week, OCIE issued just such a National Examination Risk Alert … Continued

Happy New Year

posted in: Registration & Licensing | 0

Best wishes to all our readers for a Happy and Healthy and Prosperous 2012. Remember to log on to your IARD account on January 3rd to obtain your firm’s Final Renewal Statement. Firm’s may have incurred additional fees between the … Continued