Leila Shaver of My RIA Lawyer says advisors relying on AI notetakers risk sending client communications through automated email summaries, which must be reviewed by humans before distribution to meet SEC expectations.
Inflation adjustments would lift the net worth and assets tests that define who counts as a qualified client under the Advisers Act rule.
TRO bars Joan Greenspon and Amanda Salyer from reaching out to hundreds of former Edelman clients representing more than $300 million in assets, who left the mega-RIA following the advisors' departures in February.
“The definition is so out of date,” SEC Commissioner Hester Peirce told InvestmentNews.
The SEC said the alleged did not invest client funds as represented and instead misappropriated the proceeds, including making $940,000 in Ponzi-like payments and spending nearly $3.2 million on personal expenses.
The SEC said the alleged did not invest client funds as represented and instead misappropriated the proceeds, including making $940,000 in Ponzi-like payments and spending nearly $3.2 million on personal expenses.
The California DFPI restated existing annual filing and financial reporting obligations for California-registered investment advisors, regarding registration, financials and audits.
FINRA will discontinue its current practice of reviewing firms’ draft customer letters that use “negative consent” to effect bulk transfers
Charles Schwab's compliance expert says firms are still adapting to the change of leadership at the SEC and the impact of the government shutdown.
Island Consolidated claims it restructured its business based on flawed advice from Grassi & Co and that it was never part of a formal agreement.
RIA compliance software enables firms to automate processes and streamline workflows. Learn more about the benefits these tools bring in this guide
CCO outsourcing can be a cost-effective way to ensure your firm's compliance. But there are several factors to consider. We'll go through each one in this guide
As more advisors transition to RIA firms, compliance can be a stumbling block. This guide explores the different layers of BD vs RIA in terms of compliance
Dealing with the wirehouses and BDs can be spooky, but there is one "must" every wantaway advisor should have.
Compliance expert on the do's and don'ts for new RIAs when waiting to be approved by regulators.
ADV documents that outline the who, what, where and when of the business are critical, says compliance expert.
A stay issued on Friday adds to an order in a separate case against the Department of Labor.
The pros and cons of building your own firm or joining an existing one.
A growing sentiment against restricting employee moves could affect non-solicitation, too.
Following debate from advisors and retirement plan stakeholders, the Department of Labor is set to unveil its final decision on the rule.
