Regulation BI: Policies, Procedures and Practices
It’s here! Not even lawsuits and widespread disease could hold off Regulation Best Interest (“Reg BI”). By now you’ve finalized your compliance program. While you continue shaking the bugs out of your new compliance processes, it is time to test the controls you developed to address the disclosure, care and conflict of interest obligations. Panelists will review what firms have encountered in implementing Reg BI and provide practical guidance in addressing common pitfalls and unforeseen consequences.
After attending this session, attendees should be able to:
- Develop an effective plan for testing the new Reg BI-specific areas of your compliance program
- Identify areas of your compliance program that demand attention and possible modification
- Determine if any of your WSPs and controls are unworkable and what can be done to fix them.
This virtual course is being taught as part of the Fall 2020 Compliance Conference. To learn more, visit our main conference webpage.
CCO, Dynamic Wealth Advisors
Throughout her 25-year career in the securities industry, Cherie has been involved with and/or managed nearly every aspect of this business from operations, supervision, new business, financial planning, insurance and compliance. Her focus has been on the compliance and risk areas within a broker/dealer, an RIA, Trust and Wealth Management firms both inside and outside of banking for the past 15 years.
She has a thorough understanding of the various departments within a securities and banking firm and the unique issues that they encounter on a regular basis. This knowledge allows her to analyze the situation and recommend a solution that is not just compliant with regulatory requirements but also meets the needs of the line of business. She has created and implemented Compliance Programs, Risk Assessments and Testing and Monitoring Programs for an entire Corporation which included Broker/Dealers, RIA’s, a Trust Department, and Insurance.
Cherie currently serves as the Chief Compliance Officer for Dynamic Wealth Advisors. She works with the management team, associates and affiliated advisors to ensure that our Policies and Procedures are effective and that the firm has a strong Compliance Program and culture. She also oversees the Compliance services provided by Dynamic Wealth Advisors to other registered investment advisors.
Partner, K&L Gates LLP
Richard Kerr is a partner in the K&L Gates’ Boston office, where he is a member of the asset management and investment funds practice group. Richard focuses his practice on counseling registered investment companies (including mutual funds and exchange traded funds), investment advisers, broker-dealers, and other financial institutions in connection with corporate and regulatory matters affecting their operations, particularly relating to SEC and FINRA regulation.
Richard’s practice includes providing counsel to financial institutions on a broad array of corporate, regulatory, transactional, and operational matters. He has extensive experience representing financial institutions before federal and state securities and banking regulators, and self-regulatory organizations (including FINRA and NSCC) in connection with such matters.
Richard also advises financial institutions with respect to the development of their internal compliance and risk management policies and procedures, including the development of procedures required by SEC regulation and FINRA rules. He frequently advises mutual funds and exchange traded funds with respect to their marketing and distribution activities, and also provides advice to financial institutions with respect to marketing and advertising related matters.
Additionally, Richard frequently works with financial institutions on anti-money laundering and OFAC sanctions program matters, including the development of tailored anti-money laundering and sanctions monitoring compliance solutions (including policies, procedures, and other items) for mutual funds, exchange traded funds, investment advisers, broker-dealers, and other financial institution clients.
Prior to joining K&L Gates, Richard was counsel in the Boston office of an international law firm for over 10 years, and prior to that was a senior compliance and risk management professional for a major Boston-based financial institution.
For Whom: Designed to increase the professional competence of Broker-Dealers.
Suggested Skill Level: Advanced
Maximum Recommended Credit Hours for this session will include CLE, IACCP® and CPE .
CA MCLE = 120 minutes
IACCP® = 120 minutes
CPE = 120 minutes
For more information, check out the NRS Continuing Education Guide.