Tag: broker-dealers

Understanding the mindset of intermediaries is paramount for asset managers aiming to engage and collaborate with broker-dealers effectively. It's essential to grasp the key drivers behind their decision-making processes and identify critical contacts within their home offices. Such insights can highlight potential leverage points even before partnerships are forged.

The SEC and the CFTC have recently imposed fines totalling $477.75m on 26 broker-dealers and investment advisers for failing to comply with electronic communication recordkeeping requirements. This latest enforcement wave pushes the total fines levied for similar violations to over $3bn, underscoring the serious, ongoing issue of non-compliance within the industry.

The SEC and CFTC have charged multiple Wall Street firms with widespread recordkeeping failures, imposing staggering penalties exceeding $2.5bn.

The U.S. Securities and Exchange Commission (SEC) has recently made significant adjustments to its regulatory framework, introducing two pivotal rules, Rules 3a5-4 and 3a44-2, collectively known as the Final Rules.

The world of finance is on the brink of a significant transformation, especially for investment advisors in the United States. On February 15th, 2024, a pivotal announcement was made by the Financial Crimes Enforcement Network (FinCEN) that is set to redefine the landscape of anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance.

In a significant move underscoring the persistent focus on regulatory compliance within the financial sector, the Securities and Exchange Commission (SEC) has once again made headlines by imposing fines on another 16 firms.

As the end of the year draws near, financial firms are under the gun to complete their annual FINRA and state/jurisdiction registration renewals. With deadlines fast approaching, it's critical to have a robust framework in place for timely, cost-effective, and efficient renewals, not just for this year but for the future as well.

The final deadline for compliance with the UK Financial Conduct Authority's (FCA) new Consumer Duty is swiftly approaching in July 2023. The regulatory agency has been actively providing guidance, conducting multi-firm reviews, and sharing specific industry insights in the form of Dear CEO Letters to ensure that firms are adequately prepared for the implementation.

Voice and video compliance platform Theta Lake has provided top tips on how to incorporate videos into your marketing strategy, keep the regulator happy and save money in the process.

Financial Industry Regulatory Authority (FINRA) has highlighted five key areas here industry participants have most prominently leveraged RegTech innovations.