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SEC Fines Investment Adviser for False/Misleading Advertising

Monday, January 21 2019
White Paper: Red Oak Compliance Software Helping IT Organizations Sleep Better at Night

  As an IT leader, read the following narrative and see if it sounds familiar. Recently, during a cross-functional project meeting, one of the top departmental executives submitted a project proposal to the group.  The executive said that they had been researching a new business application to fulfill the expanding goals of the department.  They […]

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Thursday, November 15 2018
CASE STUDY: Red Oak Software Integrates with Synthesis Technology for a Major Global Asset Manager

Check out the integrated Compliance Workflow and Content Management solution one of our partner’s, Synthesis Technology, completed for a Leading Global Asset Manager.  A big thanks to everyone at Synthesis for the collaboration! For more information about Red Oak Compliance Software, partnership and integration opportunities or to schedule a demonstration, please visit us online,  email us sales@redoakcompliance.com […]

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Sunday, May 19 2019
SEC Exam Priorities

In December 2018, the SEC issued its 2019 examination priorities for 2019. Due to the government shutdown from December 2018 through January 2019 the SEC was late getting started with its examination schedule for the year. Although late getting started, there is a good probability that they will start, and finish strong this year. With […]

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Saturday, May 18 2019
Cost of Fraud

On February 13, 2019 the Securities Commissioner of the State of Colorado entered a final order revoking the registration of Leyenda Capital Partners, LLC and permanently barring its managing member, Jeffrey Francis Thompson, from the securities industry. Jeffrey’s license is permanently relinquished and he shall never make recommendations or otherwise render advice to clients regarding […]

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Friday, April 26 2019

Red Oak Compliance Software (“Red Oak”), the leading provider of advertising review software for the financial services industry, will be an exhibiting partner at the upcoming 2019 FINRA Annual Conference in Washington, DC. This year’s FINRA conference, which runs from May 15-17, 2019 will feature keynote speakers from the industry’s top regulators including Robert Cook, […]

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FINRA Notice to Members – More Than Just Rules

For those who are not aware, as a registered broker dealer there is more than just the FINRA Rules with which you must remain in compliance. Most are aware, but some may not know, that FINRA also releases Notice to Members. Notice to members are generally issued based upon common audit findings and other industry […]

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Monday, April 15 2019
Too Good to Be True

On August 9, 2019, the SEC brought a civil enforcement action against Gonzalo Ortiz. Ortiz, who has no securities licenses and has never been affiliated with a broker-dealer or investment adviser, allegedly lured in an investor with promises of 50% annual returns and false claims of previous success. His victim took these statements to heart […]

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Sunday, March 17 2019
Investment Adviser as Fiduciary

Fiduciary The common law definition of a fiduciary is one who has the obligation to act for another with “total trust, good faith, and honesty.” The Employee Retirement Income Security Act (the definition used by the Department of Labor) defines a fiduciary as one who acts solely in the interest of the beneficiaries of a […]

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Saturday, February 16 2019
Investment Advisers and Annual Filings

If you have yet to submit, or at least begin, your annual amendment, time is running out. Remember, whether you are State or SEC registered, your annual amendment is due 30 days from the last day of the registered adviser’s fiscal year end. For most, this means the amendment is due by March 31. Below […]

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Thursday, February 14 2019
529 Plan Share Class Initiative

Supervision of 529 Savings Plans has become a major focus of FINRA. FINRA has launched a 529 Plan Share Class initiative intended to motivate compliance of 529 Plan rules. FINRA recommends that firms perform a review of their 529 Savings Plans to ensure appropriate mutual fund share classes were recommended and sold to clients based […]

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Monday, February 11 2019
FINRA’s Focus on Elder Abuse

On February 5th, the vice president and associate general counsel at FINRA, James Wrona, said that, “…the next round of exams… [will] look a little more closely” at the efforts of broker-dealers to protect their elderly clients from financial abuse and exploitation. This comes after an ever-growing flood elderly financial abuse cases from all over […]

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Monday, January 21 2019
Cybersecurity Practices Key Focus for FINRA

Submitted by: David Svrcek, Senior Compliance Consultant, Red Oak Compliance Solutions Given the evolving nature, increasing frequency, and sophistication of cybersecurity attacks one can never be too prepared. FINRA has a page devoted to resources one might find useful in developing their cybersecurity practices. Some of these resources include: A Checklist for a Small Firm’s […]

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