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June 6 2019 - NRS Insights

SEC Adopted Regulation Best Interest on June 5! What Does this Mean for Your Firm?

The SEC has adopted Regulation Best Interest (“Reg BI”) and the Form CRS Relationship Summary (“Form CRS”), both of which were proposed on April 18, 2018.
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June 3 2019 - NRS Insights

The SEC Voting on Reg BI on June 5 — Three Months Ahead of Schedule!

In an uncharacteristic regulatory move, the SEC is voting three months earlier than previously announced on whether to adopt “Regulation Best Interest” (Reg BI), the agency’s three-prong rulemaking “package.”
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May 22 2019 - NRS Insights

How Do I Know?

What just happened? Remarks made by OCIE Director, Peter Driscoll at the NRS Spring 2019 Compliance Conference on April 29 are causing investment advisers and broker-dealers to reconsider how they determine the appropriate amount of resources to direct to compliance. In a speech titled “How We Protect Retail Investors”[1] Mr. Driscoll said the following: We […]
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May 15 2019 - NRS Insights

Cybersecurity Training: A Wise Investment in Prevention

In spite of fortunes being spent on technology to protect sensitive information, experts warn that most firms overlook a critical, primary defense
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May 14 2019 - NRS Insights

It’s Never Been Easier to Get Started in the Securities Industry.

Have you dreamed of a lucrative career on Wall Street, but thought that the barriers to entry were too high? As of October 1, 2018, that bar was
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May 10 2019 - NRS Insights

SEC Regulation Best Interest: Ready or Not, Here It Comes!

Just over one year has passed since the SEC proposed Regulation Best Interest (Reg BI) in April 2018. The SEC has stated that it hopes to have the regulation finalized by the end of September 2019.
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May 10 2019 - NRS Insights

FINRA Provides Guidance on Customer Communications Related to Departing Representatives

This summary discusses the guidance FINRA has provided through Regulatory Notice 19-10 regarding communications firms should have with their clients when a registered representative departs through resignation or termination.
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May 3 2019 - NRS Insights

House Passes Bill to Strengthen Protection of Senior Investors

On April 30, the U.S. House passed the Senior Security Act of 2019, HR 1876. This Act: Mandates the SEC to establish an interdivisional task force to investigate and combat financial exploitation of seniors
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April 19 2019 - NRS Insights

The Bigger Picture on FINRA’s 529 Plan Share Class Initiative

In early 2019, FINRA implemented the 529 Plan Share Class Initiative in response to exam findings that some financial services firms
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April 12 2019 - NRS Insights

New SEC Cybersecurity Sweep to focus on Investment Advisers

The SEC’s Office of Compliance Inspections and Examinations (OCIE) announced a third cybersecurity sweep largely focused on investment advisers.
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