5 New Compliance Headaches for Advisors, BDs
September 3, 2015 By Melanie Waddell, ThinkAdvisor As Labor Day approaches, here are five big compliance developments advisors may have missed over the summer Pressures on compliance professionals at advisory firms and broker-dealers continue to mount as the Securities and Exchange Commission, the Obama administration, the Financial Industry Regulatory Authority and the Department of Labor are gearing up to usher in new requirements. While compliance is increasingly becoming a core function at advisory firms and broker-dealers, with firms hiring more personnel to help in this area, a recent Cipperman Compliance survey found that firms still aren’t devoting enough manpower or funds to their compliance programs. A recent poll conducted by the Investment Adviser Association found that firms continue to try and keep up with ongoing compliance challenges such as cybersecurity, custody of client assets, advertising/marketing, fraud prevention...
