Well, it is finally here – November 4, 2022 – the final implementation date for the Securities and Exchange Commission (SEC) Marketing Rule. Since it has been nearly two years since the SEC released its modernized rules that govern investment adviser advertisements and payments to solicitors, all registered investment advisers (RIAs) should have adopted any… Continue reading End of Transition Period for the New SEC Marketing Rule
Author: Chip Jones
Chip Jones is the executive vice president of compliance at Global Relay. He served as senior vice president of member relations and education at FINRA. His almost two decades of leadership experience with FINRA included maintaining and enhancing open and effective dialogue with member firms and overseeing the organization’s member education area. Prior to joining FINRA, he was vice president of regulatory and industry affairs at American Express Financial Advisors and a senior examiner/investigator at the Virginia Securities Division.
Reflections from FINRA: Compliance Transforms for a Digital-First Future
During my 19 years with FINRA, the organization’s annual meeting served as a milestone that I looked forward to every year. In May 2019, when I moderated the last panel discussion at the FINRA Annual Conference, I had no idea that in less than a year, a global pandemic would turn the world upside down.… Continue reading Reflections from FINRA: Compliance Transforms for a Digital-First Future
The Business Risk of Encrypted Chat Apps
The Securities and Exchange Commission (SEC) recently announced that J.P. Morgan Securities LLC agreed to pay $125 million after admitting to widespread and longstanding failures to maintain and preserve written communications over WhatsApp, personal email, and other message applications. On top of this, the Commodity Futures Trading Commission (CFTC) fined the bank a further $75… Continue reading The Business Risk of Encrypted Chat Apps
SEC Wall Street Inquiry a Forewarning to Financial Firms on Employee Supervision
Last week, an inquiry opened by the U.S. Securities and Exchange Commission (SEC) into how a number of Wall Street banks are keeping track of their employee communications grabbed headlines. According to Reuters, the agency’s staff are contacting a number of banks to understand how adequately they are documenting their staff’s work-related communications, such as… Continue reading SEC Wall Street Inquiry a Forewarning to Financial Firms on Employee Supervision
How Financial Firms Can Maximize Social Media Use While Minimizing Risks
As more financial firms use social media to reach and engage with customers, regulators including the SEC and FINRA still require that they preserve social media posts and communications. But many still lack robust processes for social media compliance, with fines for violations still handed out by FINRA and the SEC. In our latest webinar,… Continue reading How Financial Firms Can Maximize Social Media Use While Minimizing Risks