Speak To A Live Person: 888.302.4594 Request A Demo

Massachusetts Proposes Criminal Background Checks for Advisers

 
Sunday, March 31, 2013

The Massachusetts Securities Division has issued a proposal that would require a criminal background check of every person registering as an investment adviser representative. The proposed rule would require each person applying for registration to complete an acknowledgement form allowing the Massachusetts regulator to access the Criminal Offender Record Information system“ iCori”.

Massachusetts tends to be a leader among the states and proposes new rules that other states also adopt. We would not be surprised to see this spread throughout the country. To read the full story please click here.

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.

  • Categories

  • Get Started