Compliance Newsflash – August 22, 2018

August 29, 2018

August 22, 2018

DLA is committed to keeping our clients and friends updated on relevant news and topics in the industry by distributing a weekly Compliance Newsflash. We hope this provides you with helpful and insightful information for you and your firm! Join our mailing list by clicking here: DLA Newsflash Registration.

Reforming the Fiduciary Standard
On August 17 2018, Investopedia reported that although the Department of Labor’s (DOL) fiduciary rule has officially been shelved, many in the financial sector are still pushing for implementation of an industry-wide fiduciary standard. The DOL, as well as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and several state attorneys general are all seeking solutions that protect investors and maintain regulatory clarity.
For more information, click here.

Investment Services Regulatory Update
On August 21, 2018, OCIE published a risk alert on compliance issues relating to best execution. The OCIE of the SEC published a National Exam Program Risk Alert concerning compliance issues related to investment advisers’ best execution obligations under the Investment Advisers Act of 1940 (the Advisers Act). The Risk Alert is intended to highlight for advisers risks and issues associated with best execution that OCIE staff has identified in deficiency letters from over 1,500 adviser examinations. OCIE “encourages advisers to reflect upon their own practices, policies, and procedures in these areas.”
For more information, click here.