The Practice

• 

  The Few and the Proud: Chief Compliance Officers

  By Les Abromovitz  |  January 1, 2012

  CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations.  When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.    

• 

  The Need for Thorough and Effective Policies and Procedures

  By Les Abromovitz  |  January 1, 2012

  Whethere an advisor is SEC or state-registered, RIAs must revise their policies and procedures to address significant compliance problems occurring during the year, changes in business arrangements, and regulatory developments.

• 

  Trading Practices and Errors

  By Les Abromovitz  |  January 1, 2012

  When SEC-registered investment advisors conduct annual audits of firm policies and procedures, they should pay close attention to trading practices.  Though usually not required to, state-registered advisors should look at their trading practices and revise policies that do not fully protect clients.

• 

  Updating Form ADV and Form U4

  By Les Abromovitz  |  January 1, 2012

  When it comes to disclosure on Form ADV, RIAs should assume information would be material to investors.  When in doubt, RIAs should disclose information rather than arguing later with securities regulators that it was not material.

• 

  Use and Misuse of Social Media

  By Les Abromovitz  |  January 1, 2012

  Social media is an inexpensive and effective way to communicate with established and prospective clients.  Nevertheless, when RIAs utilize social media to promote their advisory practices, they risk compliance problems for their firms.

• 

  Where Are We Headed?

  By Les Abromovitz  |  January 1, 2012

  The ultimate compliance goal is to help ensure that everyone associated with an advisory firm acts ethically at all times.  Advisors and RIAs should do the right thing, even when regulators are not looking over their shoulders.

• 

  Whistleblowers

  By Les Abromovitz  |  January 1, 2012

  A whistleblower is any individual providing the SEC with original information related to a possible violation of federal securities law.  The Dodd-Frank Act established a whistleblower program that enables the SEC to reward individuals who voluntarily provide such information.

• 

  Agents Allege Carrier Complicity in CHOLI Scheme

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  July 13, 2011

  Aviva knew of insurance policies, agents say, and add that nothing illegal was done.

• 

  Advisors Are From Mars, Clients Are From Venus

  By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M.  |  July 12, 2011

  Fidelity survey finds a surprise: Wealthy clients are more likely to want to use technology to communicate with advisors than vice-versa.

• Envestnet, ByAllAccounts Partner on Data Aggregation

  By Marlene Y. Satter, AdvisorOne  |  July 12, 2011

  A partnership between Envestnet and NyAllAccounts aims to streamline administrative tasks to help advisors grow client wealth.