April 20, 2018

Standards of Conduct for Broker-Dealers and Investment Advisers

On April 18, 2018, the Securities and Exchange Commission (the “Commission”) voted to propose two rules and an interpretation relating to the standards of care for investment advice provided by broker-dealers and investment advisers. The proposals seek to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving retail customer access to transaction-based brokerage accounts and a broad range of investment products.

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April 11, 2018

Reminder of Compliance Deadline for Financial Crimes Enforcement Network’s Customer Due Diligence Rule

As a reminder, May 11, 2018 is the deadline for compliance with the Financial Crimes Enforcement Network (FinCEN)’s customer due diligence rule (CDD Rule). The CDD Rule strengthens existing customer due diligence requirements and requires mutual funds as well as banks, brokers and other financial companies to identify and verify beneficial owners of legal entity customers.

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