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Common State Exam Deficiencies

Monday, March 17, 2014

We believe many states are finding deficiencies similar to what the Texas State Securities Board’s (“TSSB”) has published in their newsletter, “Texas Regulatory Review”. The TSSB’s recent publication offers insights into the common exam deficiencies they found for the first half of 2013.

It also offers clarification on TSSB’s view of what is and is not advertising and the books and records requirements. Finally they discuss the new 2011 rule that requires Advisers to obtain certain client profile information and update it every 3 years. Please click here to read the complete newsletter.

If you have any questions, please feel free to call us.

About Red Oak Compliance Solutions

Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.