Compliance & Regulatory Updates

Oyster Consulting (Bermuda) Manager Continues Thought Leadership Role

The Regulatory Compliance Association (“RCA”) held its annual Symposium in Bermuda this month. A Women’s Summit was held prior to the Symposium’s Welcome Reception on Sunday evening.  Alison Morrison, Managing Director of the Oyster Consulting (Bermuda) office was a panelist on one of the two Women in Asset Management & Regulation panels during the afternoon. … READ MORE

The Department of Labor’s Proposed Fiduciary Rule: What Investment Advisors Should Be Doing Now

The new Department of Labor (“DOL”) Rule changes the definition of “fiduciary” under the Employee Retirement Income Security Act (“ERISA”), expanding the universe of financial professionals who would be deemed to be fiduciaries. Most of the Rule’s requirements become effective April 10, 2017.  The full disclosure provisions, the policies and procedures requirements, and the contract… READ MORE

The Department of Labor’s Proposed Fiduciary Rule: How Will It Impact Investment Advisers?

The new Department of Labor (“DOL”) Rule changes the definition of “fiduciary” under the Employee Retirement Income Security Act (“ERISA”), expanding the universe of financial professionals who would be deemed to be fiduciaries. Most of the Rule’s requirements become effective April 10, 2017.  The full disclosure provisions, the policies and procedures requirements, and the contract… READ MORE

The DOL Fiduciary Rule: Time for Acceptance

In October 2010, the Department of Labor proposed a rule to redefine the label “fiduciary” and change the way retirement plans and IRAs address conflicts of interest. Last week, the rulemaking process came to an end. What followed was an avalanche of blogs, articles, press releases and interviews within the industry, tossing out terms like… READ MORE

NSCP & Oyster Consulting Webinar: The MCDC Initiative

On June 18, 2015, the SEC released its first settlements with municipal securities underwriters on their continuing disclosure obligations under SEC rule 15c2-12, also known as “MCDC”. These come after firms self-reported violations of compliance with the rule last fall. It is estimated that hundreds of additional settlements may be in process. Join us on… READ MORE

High Frequency Trading Firm Sanctioned for “Marking the Close”

By: Mike Nolan What is Happening: High frequency trading is being scrutinized more closely than ever. For the first time, the SEC recently sanctioned a New York-based, high frequency trading firm for market manipulation. According to the SEC, for several months in 2009 the firm was using aggressive, rapid-fire trades during the final two minutes… READ MORE

Elder Financial Abuse: Best Practices to Keep Your Clients Protected

Elder financial abuse is on the rise, and will likely increase as the Boomer generation continues to age. Investors over the age of 50 control 70% of the nation’s wealth, making them ripe for recruiting as clients, and unfortunately, targets. As the number of elder abuse claims grows, the SEC has increased its scrutiny of… READ MORE