The True Cost of Regulatory Non-Compliance

May 14, 2020 4:30:00 PM / by Alec Cheung posted in SEC, Compliance, Regulations, RIA

What is the cost of non-compliance? How much should an RIA spend on compliance? Are these compliance tools and services worth it? The answers to these questions become clearer when we look at both the direct and indirect impact of examination and enforcement actions taken by the SEC.

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10 Tips to Avoid Pay-to-Play Restrictions

Oct 17, 2019 11:15:00 AM / by Dina Tantra posted in Compliance, Dina Tantra, Regulations

I recently attended a panel discussion designed to provide tips to stay on the right side of pay-to-play requirements. Asset managers that manage investments of public entities (primarily state and local municipalities and their agencies) need to avoid the strict liability standards that are triggered by crossing the line.  Of course, the panel started with an overview of SEC Rule 206(4)-5 and similar rules by other regulatory bodies (FINRA, CFTC, MSRB, and several state agencies), which generally prohibit advisers from receiving compensation for two years if the adviser or any covered associated makes a political contribution to a government official.

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