NRS Insights Blog
September 11 2017 - NRS Insights
SEC Issues More Guidance on Certain Form ADV Amendments
In August 2017, The SEC’s Division of Investment Management issued an information update, for Advisers Filing Certain Form ADV Amendments. Specifically, the update provides guidance on certain aspects of compliance with the rulemaking Form ADV and Investment Advisers Act Rules (Advisers Act Release No. 4509), previously adopted on August 25, 2016, with a compliance date of October 1, 2017.
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September 5 2017 - NRS Insights
Compliance Alert: Changes to MSRB Customer Complaint Rules Now in Effect
As of September 1, amendments to MSRB Rules G-8, G-9, and G-10 addressing firms’ responsibility regarding written customer complaints, are in effect. The amendments:
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September 4 2017 - NRS Insights
The Complete Guide to Passing Your Series 7 Exam
Thinking of starting a career in financial planning? The Series 7 exam is the first step to your career success, whether you’re fresh out of college or making a change.
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August 25 2017 - NRS Insights
The Bank Secrecy Act, Anti-Money Laundering and your FINRA Exam
Today’s geopolitical climate has caused more focus on money laundering activity related to illegal drug trafficking and terrorist financing. Consequently, regulators place higher priority on enforcing the Bank Secrecy Act (BSA), which mandates financial industry standards to detect and prevent money laundering.
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August 18 2017 - NRS Insights
OCIE Releases Risk Alert for Cybersecurity 2 Initiative
On August 7, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert, based on OCIE’s findings stemming from its Cybersecurity 2 Initiative.
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August 10 2017 - NRS Insights
DOL Proposes to Extend Applicability Date of the Fiduciary Rule
On Wednesday, August 9 the DOL submitted proposed amendments to the Office of Management and Budget that would extend the transition period for the Fiduciary Rule from January 1, 2018 to July 1, 2019.
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August 10 2017 - NRS Insights
Regulatory Reminder: Effective September 5, the Settlement Cycle Changes from T+3 to T+2
Last March, the SEC amended Rule 15c6-1(a) under the Securities Exchange Act of 1934 to shorten the standard securities transaction cycle for most securities transactions from T+3 to T+2. Under the amendment, “T” refers to the day of the transaction and the parties have two days thereafter to complete the transaction by delivery of the security and for payment. The amendment, effective September 5, 2017, replaces the prior T+3 rule.
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July 25 2017 - NRS Insights
May the Scores Be with You!
“What is the pass rate for my exam?” “What is the average score?” “What are the odds of an industry newbie passing the first time?” (As Hans Solo said, “Never tell me the odds!”)
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July 17 2017 - NRS Insights
SEC Approves FINRA’s Plan to Revamp Qualification Exams
The Securities and Exchange Commission last week approved the Financial Industry Regulatory Authority’s plan to revamp the securities industry’s licensing process and exams. In order to keep pace with regulatory and industry changes, the approved rule creates a two-tiered examination process.
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July 11 2017 - NRS Insights
To Thine Own Self Be True — Know Your Testing Environment
A successful approach to preparing for your FINRA exam is often a two-pronged strategy. You certainly need to study and know the content being tested (our study programs see to that!). Oftentimes, however, that is not enough; you also need to beat the test.
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