Compliance Challenges for Dually-Registered Firms

Wolters Kluwer invited Oyster Senior Consultant Robert Tuch, Esq. to write an article on “Compliance Challenges for Dually-Registered Firms,” which is in the latest issue of Practical Compliance & Risk Management for the Securities Industry. We hope you find it useful. If you would like to hear more on this topic please call Oyster Consulting… READ MORE

SEC Reminds Fund Advisors to Review – Gifts and Entertainment Policies

What’s Happening: The SEC recently issued a Guidance Update reminding mutual fund investment advisors (Advisors) that the receipt of gifts or entertainment by fund advisory personnel from persons doing business or hoping to do business with the fund may violate section 17(e)(1) of the 1940 Act. While most Advisors’ Codes of Ethics address this practice,… READ MORE

Activity in Low Priced Stocks Poses Operational Risks

By: George Jennison FINRA handed out one of its largest fines ever last year to a firm claiming that it ignored its Anti-Money Laundering obligations when accommodating client activity in low priced stocks. That $8 million fine was not levied against a broker-dealer operating a boiler room operation in penny stocks, rather it was levied… READ MORE