Thought leaders from RegEd will participate at the upcoming 2021 SILA National Education Conference, which will be held in Philadelphia on September 19-22. RegEd is also a Diamond Level sponsor of the annual event. Attendees at the in-person conference will use their collective ideas, voices, and energies to work “Together Towards Tomorrow” to address insurance licensing and securities registration challenges. The conference agenda includes dozens of sessions around tracks for Surplus, Securities, LHPCV, Adjusters, and General attendees. As the largest provider of compliance technology solutions to the financial services industry, RegEd will exhibit its market-leading Enterprise Xchange Licensing and Registration […]
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RegEd, News, Press, PR
Documentation and Compliance Key in FINRA Sweep Exams of Options Accounts
Broker-dealers need to document their firm’s processes for supervising options trading and demonstrate compliance with them in new FINRA sweep exam on option accounts. The industry self-regulator is conducting targeted examinations of broker-dealers’ supervision of options trading as part of its ongoing efforts to protect retail investors. FINRA CEO Robert Cook had indicated in July that the sweep would be coming and the regulator followed through shortly thereafter, releasing its Targeted Examination Letter on Option Account Opening, Supervision, and Related Areas in early August. “Options are tricky and can be difficult to understand for certain investors. Even registered representatives recommending […]
Continue readingMore TagForm CRS Enforcement Begins with $910,092 in Fines
The grace period for firms to furnish investors with Form CRS customer relationship summaries has indeed ended now that the SEC has sanctioned firms for the first time, a little more than a year after the requirement took effect. The SEC has fined 21 investment advisers and six broker-dealers a total of $910,092. Without admitting or denying the findings, the firms agreed to be censured, cease and desist from violating the charged provisions, and pay civil penalties ranging from $10,000 to $97,523. “Registration with the SEC as an investment adviser or broker-dealer comes with mandated filing and disclosure obligations,” Gurbir […]
Continue readingMore TagBroker-dealers Hope for Permanent Remote Inspections as FINRA Ponders Extension
Regulators remain open to extending remote examinations for broker-dealers into 2022 and firms hope the relief will last even longer. FINRA President Robert Cook recently reiterated the need for exams to remain remote into 2022 during a conference held by the Securities Industry and Financial Markets Association’s (SIFMA), WealthManagement reported. “What I’d like to see happen here, at least where my thinking currently is, is we would extend it into next year, and that we would also step back and look at that rule more holistically, and think about whether it could use some updating to accommodate a thoughtful, risk-based […]
Continue readingMore TagNew State Insurance Regulations Surge as Regulators ‘Catch Up’ on Non-Pandemic Issues
State insurance regulations are changing faster than they did before the COVID-19 pandemic, though it may be hard to tell. While a flood of pandemic-related state regulations (laws, administrative rules, bulletins and notices) pushed the numbers of insurance regulations to a record 3,600 in 2020, this year’s regulatory activity has proven to be just as busy as the previous record-breaking year, 2019. Many of this year’s insurance changes have been included in omnibus bills, some of which have reached an unprecedented 2,500 pages, rather than being introduced as stand-alone bills. “This legislative season has been busy because last season got […]
Continue readingMore TagDOL Fiduciary Rule Back in Play as Industry Preps for PTE 2020-02
New federal regulations for retirement advisers may not last long. Though the US Department of Labor’s exemption for investment advice fiduciaries has taken effect as planned and is expected to be enforced in December as scheduled, the agency has since signaled its intent to revisit its fiduciary regulation on a broader scale. The DOL recently announced its intent to amend the definition of the term “fiduciary” by including it as an item on its spring regulatory agenda. The agency revised the definition previously but it did not stick because a federal court vacated the DOL fiduciary rule that contained the […]
Continue readingMore TagRegEd Sponsors FSI OneVoice 2021
RegEd, the leading provider of compliance technology solutions to broker-dealers and other financial services firms, will be a sponsor and exhibitor at the Financial Services Institute (FSI) OneVoice conference, which will be held in Orlando, Fla., and virtually, from July 26-28. The FSI OneVoice 2021 conference is an educational forum for independent financial services firm executives. Attendees will learn critical insights on the most important issues affecting their businesses as they move forward in a post-Covid-19 world. This year’s conference will include general sessions on navigating the recovery, diversity and inclusion, and the future economy. It also will have concurrent […]
Continue readingMore TagRegEd will Present Enterprise Compliance Solutions for Banks at the ABA Regulatory Compliance Conference
RegEd will showcase its enterprise compliance platform for banks at the American Bankers Association’s Regulatory Compliance Conference, which will be held virtually from June 22-24. The National Conversation on Compliance will provide participants with in-depth regulatory analysis, benchmarking data from across the industry, and practical implementation strategies for current compliance challenges. The ABA Regulatory Compliance Conference includes sessions on timely topics such as: Leading Practices in Assessing and Mitigating UDAAP Risk Reviewing Your Compliance Policies and Procedures for the New Environment Customer Communications Compliance Navigating Virtual Examinations The Future of Regulation The conference will also include a virtual marketplace with […]
Continue readingMore TagState Appeals Overturning of New York Regulation 187
New York’s Department of Financial Services is taking its fight for NY Regulation 187 to the state’s highest court. As expected, the DFS has appealed a lower court’s decision overturning NY Reg 187 to the New York Court of Appeals, InsuranceNews.Net reported. The Supreme Court Appellate Division struck down the controversial best-interest standard for the sales of life insurance and annuities in April. The DFS implemented the best-interest standards for annuity sales on Aug. 1, 2019, and for life insurance sales on Feb. 1, 2020. But insurance industry associations, an insurance agency, and a registered representative sought to overturn the […]
Continue readingMore TagRegEd Reaches 3 Million Submissions Reviewed on its Enterprise Advertising Review Solution
Adoption by scores of financial services firms, including 7 of the top 10, fueled exponential growth in volume over the last two years. RegEd, the leading provider of RegTech solutions to the financial services industry, today announced that Enterprise Advertising Review, an advanced technology solution that automates the advertising compliance review process, has processed more than 3 million submissions to date. Regulators such as the SEC and FINRA are highly focused on marketing, advertising, and customer communications to ensure that they are fair, balanced, and not misleading, as well as compliant with regulatory rules. A major challenge for financial services […]
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