Regulatory Compliance E-newsletter - June2013
Posted On 6/27/2013 3:00:00 PM
Feature of the Month
A Continuing Education Program that Delivers
The cMAX Continuing Education Module allows you to confidently construct, deliver and administer your firm’s annual continuing education requirements with content that is fresh, relevant and coincides with regulatory notices and rules. This continuing education module offers a complete catalog of online Firm Element and Insurance CE courses, as well as an on-demand Annual Compliance Meeting with the most pressing industry topics.
|Regulatory Notice and Rules
||AML (Anti-Money Laundering) 2013
|New Rule 2210
||Communication with the Public
|FINRA Regulatory Notice 11-39 and Notice 10-06
||Communications – Use and Supervision of Social Networking sites and blogs
|FINRA Regulatory Notice 12-03 Heighten Supervision of Complex Products
||Complex Products – Regulatory Issues
|MSRB Rule G-9/SEC Consolidating certain FINRA rules
||Books and Records
|FINRA Regulatory Notice 12-40
||Private Placement Securities
|Outside Business - accounts, front running, churning, selling away, etc.
||Outside Business and Personal Trading Activities
Register for a ComplianceMAX Demo today or contact us for more information.
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Mid-Year Policies & Procedures and Annual Review Status Check
Believe it or not, mid-year is upon us — and summer is the perfect time to make sure your firm's Policies and Procedures are up to date and to start working on your Annual Review. NRS ComplianceGuardian™ provides easy-to-use tools to make these tasks simpler:
- Written Policies and Procedures Manuals
Create a required Written Supervisory Policies and Procedures or a Code of Ethics including attestations for your firm with Guardian's online manuals. The manual content is written and updated by NRS consultants to ensure that your firm meets current regulatory requirements. NRS's Smart Update technology protects your custom content by not allowing it to be overwritten unless you so choose.
- Annual Review Tool
Choose which sections of your policies and procedures manual should be reviewed and assign them to the appropriate people along with due dates for their review. You can track the progress of the reviews and also send email reminders. Reviewers can submit an overview of their review, upload documentation and submit findings. Findings can be assigned to determine if policy and/or operational changes are required. Once the reviews are complete you can easily create the required report for presentation to the Board and archive the reviews for record keeping purposes.
Get your summer "compliance to-do list" in order with ComplianceGuardian. Request a demo today.
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NRS Desktop Seminars
Did you know that NRS desktop seminars include free seven-day access to recordings for those online events that you attend? Within 24 hours of each online event, registered attendees receive a complimentary link to the view and/or listen to the event.
The art of listening more than once has its advantages. Research on adult learning theory indicates that for new information to ‘stick,” learners need to be exposed to material more than once, and get more and more engaged with the content with each exposure. In response to this research and client demand, NRS online events pack more power by extending the learning experience beyond the real-time event.
NRS online, real-time events are filled with so much information that the option to listen to education events more than once is our commitment to helping compliance professionals master the basics and the nuances of compliance requirements and best practices. Participate in the session the first time without scrambling to take pages of notes. Listen to the expert instructors and absorb. Listen again at your convenience to flesh out compliance topics that need a second pass.
With several topics offered in the second half of 2013, including the recently added desktop on the new Identity Theft Red Flags Rules (compliance date of November 20, 2013 for broker-dealers, mutual funds, and federally registered investment advisers), the transfer of information and learning can be doubled, or even tripled, with an NRS online event coupled with free seven-day access to the recording.
Sign-up for a desktop seminar today.
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SEC Set to Enforce Broker-Dealer Registration Requirements on Private Fund Managers
In 2011, the SEC adopted Dodd-Frank driven regulations which required advisers to hedge funds and other private funds to register as investment advisers. The private fund industry was faced with major challenges as it adapted to doing business in a regulated environment. Private fund managers, though not thrilled with the new requirement, completed their registrations, implemented compliance programs, and suddenly found themselves subjected to SEC “presence exams,” for the first time. Many private fund managers feel they’ve weathered the storm of regulation and can breathe a sigh of relief, but another wave of oversight may be headed their way. The SEC has recently put private fund managers on notice that they may, in fact, be engaging in broker-dealer activities and may be required to also register as a broker-dealer and subject to FINRA oversight.
Private fund managers have been asked to overcome wave after wave of new regulatory oversight and their survival requires focus and expertise. As the recognized experts in the industry, NRS has helped hundreds of private funds tackle their registration challenges to successfully register with state and Federal regulators. An experienced partner like NRS can help navigate through this new storm. Contact us today.
For full white paper on this topic visit, www.nrs-inc.com/privatefunds/BD.
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