Author Archives for NRS

February 12 2019 - NRS Insights
Ready for the Regulators’ Next AML Scrutiny?
Regulatory concern about money-laundering activity is only increasing, and financial institutions are pumping more and more money and human resources into maintaining adequate compliance programs to avoid sanction.
Find out more

February 1 2019 - NRS Insights
Demystifying the New SIE Exam
Since FINRA’s Securities Industry Essentials (SIE) Exam was introduced last year, FINRA has held its cards close to its chest, electing to hold on to a lot of the data pointing to enrollment numbers and/or passing ratios.
Find out more

September 13 2018 - NRS Insights
The industry is bright for Investment Advisers
In case you have not heard, according to this year’s Evolution Revolution report released on September 6 by NRS and the IAA, the number of SEC-registered investment advisers continues to climb.
Find out more

July 30 2018 - NRS Insights
BDs to Benefit from FINRA360 Changes to Enforcement and Exam Process
As part of its continuing efforts to review and revamp the organization (i.e. FINRA360), FINRA has consolidated its enforcement units in order to streamline investigations, improve consistency and transparency and, ultimately, improve relationships with member firms.
Find out more

July 12 2018 - NRS Insights
SEC stays all cases before Administrative Law Judges for 30 days
Following the US Supreme Court’s June 21 decision in the Lucia case , the SEC issued a stay of all cases being heard by Administrative Law Judges (“ALJs”) for 30 days or until the SEC issues further orders.
Find out more

June 5 2018 - NRS Insights
Ready for the Final Exams? Take the Most Reliable Route to Passing
Congratulations! You’ve completed that last module and you’re eager to zip through the rest of your exam prep course …
Find out more

May 9 2018 - NRS Insights
The DOL Breaks Its Silence on the Status of Its Fiduciary Rule
On Monday, May 7, the Department of Labor issued a “field bulletin” to industry stakeholders stating that it would not pursue enforcement actions against investment advice fiduciaries “who are working diligently and in good faith to comply” with the BIC exemption and principal transaction exemption requirements of its much debated “fiduciary rule.”
Find out more

April 27 2018 - NRS Insights
Here We Go Again! SEC Proposes Yet Another New Standard for Brokers
If you’ve been following the saga of the DOL’s fiduciary standard, you know that after a few years of hashing it out, it is still being debated. Now the SEC has picked up this onerous task. On April 18, the SEC voted to propose “Regulation Best Interest,” a “leisurely” 1,000-page read that spells out the rules and interpretations designed to improve the clarity of investor relationships with investment advisers and broker/dealers.
Find out more

April 20 2018 - NRS Insights
SEC Proposed Best Interest Standard and New Disclosures
The SEC officially entered the fiduciary standard fray with the release of its much-anticipated fiduciary /best interest proposal April 18. The three-part proposal is likely to be controversial in several respects, as contrasts with the DOL’s hapless Fiduciary Rule are inevitable.
Find out more

March 26 2018 - NRS Insights
DOL Fiduciary Rule Strikes Out — Is the SEC Up Next?
In another twist to evolving fiduciary standards in the securities industry, a 2-1 decision of the U.S. Court of Appeals for the 5th Circuit vacated the entire Department of Labor’s “fiduciary rule” last Thursday. The DOL rule would extend a fiduciary standard to brokers, insurance agents, and anyone else offering “advice” regarding retirement accounts.
Find out more