NRS Insights Blog

Effective December 15, 2016, a revision of FINRA Rule 5210 (Publication of Transactions and Quotations) goes into effect, further defining prohibited actions related to disruptive quoting and trading.

Great question! As we approach April 2017, when the Department of Labor’s Fiduciary Rule is scheduled to take effect, we’re consistently asked, “Will I be required to take the Series 65 (or Series 66)?”

In a year when the Department of Labor’s Fiduciary Rule has stolen the headlines and captured the attention of virtually everyone in the financial industry, it is easy to lose sight of another game-changing rule on the horizon for advisers: AML obligations proposed by FinCEN under the Final Rule of the Bank Secrecy Act.

How will the election results affect the DOL’s new fiduciary rule? - The election of Donald Trump has left financial services firms wondering just what the near future holds in store for them. Will the DOL fiduciary rules be delayed or rescinded altogether? How can a firm plan for 2017 and beyond with so much uncertainty? No one, including NRS, knows the answers to these questions. However, we can suggest a prudent course to follow while waiting for the new Administration to announce and try to implement its policies. Click the above link to read more…..

The new Department of Labor rule was a hefty 1000 page thriller that left IAs and BDs with not only a daunting task ahead of them but a lot of unanswered questions. Not surprisingly, there is a good deal of confusion and uncertainty among firms trying to comply with the new rules. In this article, we will discuss some of the more common misconceptions we are hearing. Click the above link to read more…..

It has been reported that 55% of Americans don’t have a will, leaving them vulnerable to costly court fees and legal battles. Those who do have their wills drawn up are generally older — historically, over 90% of probated wills have been made by individuals who were 60 years old or older. Additionally, probate costs American families up to $2 billion per year, of which up to $1.5 billion is paid in attorney fees. These costs can often be avoided with timely and knowledgeable estate planning.

U.S. Securities and Exchange Commission (“SEC” or “Commission”) Chair Mary Jo White has made a number of public comments indicating that the SEC is considering former commissioner Daniel Gallagher’s recommendation to allow third-party entities to conduct examinations of registered investment advisers. Click the link above to read more…..

FIRE Solutions’ exam prep courses include quizzes that test your knowledge of the materials taught in our lessons. While quizzes help determine a student’s level of knowledge of a topic, they also help the student to learn and retain the information. Research from Washington University in St. Louis indicates that quizzes may be a student’s best friend when it comes to understanding and retaining information for the long haul. But don’t over-quiz — here’s the science behind our strategy:

Recent SEC cases against leading investment groups emphasize the need for thorough review of and tailored updates to all disclosures…Click the above link to learn more. In 2016, the SEC brought enforcement actions against Riverfront Investment Group, Raymond James & Associates, and Robert W. Baird & Co. for failing “to properly prepare clients for additional transaction costs beyond the ‘wrap fees’ they pay to cover the cost of several services bundled together.” These cases once again demonstrate how boilerplate disclosures that are inconsistent with the actual practices implemented by a firm may fail to withstand regulatory scrutiny.

The USA PATRIOT Act specifically requires your firm to establish a program to prevent money laundering and interdict possible terrorist financing activities.