In part one of a six-part series, “Keeping your practice compliant,” Ellen Bessner, partner, Babin Bessner Spry LLP, and Dan Richards, CEO, Client Insights, discuss three key issues advisors need to consider when selling their book.
The regulator will host outreach sessions to guide firms through the process of completing the questionnaire
Establishing and following processes is key to staying out of trouble with regulators and your clients
Compliance must play a greater part in ensuring they understand advisors’ OBAs before approving them as well as supervising these activities once approval has been granted
Rules governing traditional forms of marketing and advertising apply to digital channels
The SRO will also be exploring the use of social media as part of its compliance priorities for 2016, which were published on Thursday
MFDA report shows that many firms are failing to make a genuine effort to implement new regulations
New bulletin also states that the SRO is concerned about the prevalence of reps falsifying client signatures
New areas of focus include ETFs, variable annuities and liquidity controls
New system needs more work to mesh with firms’ internal systems