The capital and credit access challenges facing many business owners in today’s turbulent inflationary environment mean that some may pursue questionable financing options offered by unscrupulous parties in the form of predatory lending. Jason Keller and Emily Redig of Wolters Kluwer look at the factors that can lead to predatory practices and how to mitigate those risks to foster compliant,...
Few issues shaping the private equity ecosystem promise to be as transformational as ESG. For the better part of the past decade, in one form or another, ESG has evolved from a “nice to have” item relegated to the final minutes of boardroom discussions and portfolio company management meetings to a new category of fraud risk and a material compliance...
Reg BI says brokers should act in the best interest of their retail customers, but are they? Sarah Hutchins and Corri Hopkins of Parker Poe dig into the details of the SEC’s first Reg BI enforcement action and consumer claims to reveal where advisers are still being tripped up. Broker-dealers face increasing risks tied to a 2019 regulation that had...
Financial institutions have enjoyed a fairly easygoing regulatory environment in recent years. Combined with strong economic performance, that’s meant a certain amount of coasting when it comes to enhancing their compliance management systems. But the time for relaxation is over, and as Capco’s Pamela Buckley explains, institutions need to take a hard look at all levels of their compliance programs....
Despite widespread efforts to ban problematic communication apps like WhatsApp and WeChat, only 3% of compliance leaders strongly believe those bans are effective, according to new research from compliance software provider Global Relay. Global Relay’s small survey of 39 global compliance officers, mostly in the financial services industry, found that while 59% had banned WhatsApp and similar apps as a...
A newly issued SEC Division of Examinations risk alert indicates that newly registered advisers may be failing to uphold several of their legally mandated requirements. Nutter’s Mark Tarallo digs into the agency’s alert — and what advisers need to know. For the past several years, the SEC’s Division of Examinations has prioritized examining newly registered advisers within a reasonable period...
Insights from investment industry sponsors, investors and service providers LP and GP Relations in Flux Amid Economic Volatility 2023 Investment Funds Outlook About this report from Barnes & Thornburg: After a several-year stretch of record gains and robust capital inflows, private investment funds are now navigating increasingly volatile economic terrain. As has been well publicized, 2022 saw double-digit decreases in...
Social selling gives financial advisers an effective way to connect with potential clients and build a rapport with them as a way of generating new customers, but it also comes with compliance requirements that, if not managed properly, can become burdensome and potentially costly to a firm. SafeGuard Cyber’s Chris Lehman digs into the SEC’s rules and shares advice for...
The SEC is continuing its focus on cybersecurity regulations by announcing three new proposed rules and re-opening the comment period on an additional proposed rule from last year. Each of the proposed rules focuses on entities in the financial sector, including broker-dealers, investment advisers, investment companies and other entities regulated by the SEC. A trio of experts from Baker Donelson...
It’s been the better part of two decades since a relatively common risk management mechanism — an interest rate swap — served as a scapegoat for a long, deep economic recession. Could our current financial crisis, which just this week saw First Republic Bank seized by federal regulators and subsequently taken over by JP Morgan, bring vindication to the humble...
How can we stem the tide of dirty money flowing through financial institutions? Proposal for New Regulation A Plan to Inhibit Significant Money Laundering Offenses and Improve Enhanced Due Diligence About this whitepaper from Robert Mazur:Take a very close look at the dozens of deferred prosecution agreements and indictments pled to by major banks when they’ve been accused of anti-money...
The asset management industry isn’t exactly known for diversity in its ownership ranks, and neither are the outsourced service providers firms often engage. Katie Twomey of Illumen Capital argues for diversity across the board, even in organizations without traditional supply chains. Diverse-owned firms represent just 1.4% of the $82 trillion in assets under management within the asset management industry. While...
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