We try to take a look at industry news and give you the highlights for Compliance, Operations and Strategy Departments and Associates.
In this episode of the Oyster Stew podcast, Oyster Consulting's Ed Wegener and Bryan Jacobsen break down how firms can implement risk-based monitoring, tailor training for frontline roles, conduct effective investigations, and ensure your firm's Suspicious Activity Report (SAR) filings are what regulators require.Key Takeaways What regulators expect from your AML compliance programRisk-based surveillance: Going beyond cookie-cutter monitoringHow to tailor red flag training by employee roleInvestigating suspicious activity: When to file a SAR, how to do it rightLeveraging third-party vendors for transaction surveillance and case managementCommon mistakes firms make—and how to avoid themOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Your CAT reporting compliance requires more than just data submission; you need comprehensive surveillance programs that include monitoring both exceptions and successful reports to maintain regulatory compliance. Listen to this week's Oyster Stew podcast as Oyster experts Ralph Magee and Steve Kuhs share their expertise in CAT and CAIS reporting, providing you with the information you need to build an effective CAT reporting compliance program. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In this episode of the Oyster Stew podcast, regulatory compliance experts Ed Wegener, Candy Palugi, and Nolan Hughes examine the nuanced world of custody regulations and outline concrete steps firms should take when custody is discovered, including ADV amendments, engaging independent accountants for verification audits, and implementing enhanced supervision procedures.For compliance professionals and advisory firm leaders, this conversation provides essential guidance on balancing client service with regulatory requirements. Listen now to gain valuable insights that will help protect your firm from unintentional custody violations while maintaining exceptional client service. Review your operational procedures today to ensure you're not triggering custody requirements without proper safeguards in place.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Join Oyster experts as they provide real-world insight into the shifting CAT and CAIS landscape, including:The current regulatory focus on removing PII information from CAIS reportingImplementation uncertainty - where FINRA guidance falls shortMember firms grappling with the scope of PII removal at account and customer levelsBlue sheets and CAIS - redundant reporting and integration challengesCAT reporting's critical role in market surveillance during volatile trading periodsHow the multi-year phased implementation approach provides a potential model for future regulationsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Your clearing agreement is the backbone of your brokerage firm's operations, yet many firms fail to review it until it's too late. In this week's episode, Oyster's David Williams and Peter Sheehan break down why your clearing contract should be a top priority and what you should consider when evaluating your agreements.You'll learn:· Why your clearing agreement should be a priority· Key warning signs for when to review your contract· How pricing models have evolved· Some hidden costs and contract pitfalls AND· Considerations for exploring the marketplaceFrom pricing models to advisory programs, hidden fees, and the right technology, David and Peter share their decades of expertise to help you optimize your clearing relationship and ensure it aligns with your firm's growth and strategy.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In this episode of the Oyster Stew Podcast, Dan Garrett and Jay Donlin break down the critical—but often overlooked—factors that determine whether your technology investments will actually move the needle for your firm. From setting business-driven goals to avoiding the allure of flashy tools with limited value, they walk through practical insights that can save you time, money, and internal frustration.What You'll Learn· Start with Strategy, Not Software· Beware the Shiny Object· Don't Underestimate Adoption and Training· Data Strategy· Measure Before and After: ROI Isn't Optional· Knowing When to Walk Away Whether you're considering AI adoption or evaluating more fundamental systems, this conversation offers essential wisdom for anyone responsible for technology decisions. Listen now to ensure your next technology investment truly advances your business goals rather than becoming another expensive disappointment.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Understanding and implementing the new FINCEN AML (anti-money laundering) requirements for registered investment advisors (RIAs) is crucial to achieving compliance by the 2026 deadline. Preparing for AML compliance as an RIA will take time. Firms must develop and implement risk-based AML programs, appoint compliance officers, establish monitoring systems, and ensure staff receive proper training—steps that require careful planning and execution well ahead of the 2026 deadline.Join Ed Wegner and Bryan Jacobson as they discuss · 8 critical elements of compliance and their implications· Building a strong AML program: steps for RIAs· The importance of a risk-based approach to AML compliance· Key elements required for establishing an AML program· The role of a designated AML Compliance Officer (AMLCO)· Independent testing and ongoing compliance monitoring· Leveraging third-party resources and ensuring adequate training Whether you are already familiar with AML regulations or completely new to the topic, this episode provides essential insights to prepare your firm for the upcoming changes. Tune in to ensure that you have the knowledge and tools needed to comply with these vital regulations. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Unlock the secrets of navigating FINRA's complex enforcement landscape with former enforcement officials Lisa Colon and Chris Kelly, who now provide defense counsel to broker-dealers. Drawing on their rich experience at FINRA and current roles at CSG Law, Lisa and Chris share their perspectives on the current state of FINRA enforcement in the securities industry. We discuss the statistics of previous enforcement actions, the importance of strategic cooperation, and the reality of FINRA credit for cooperation. Key topics include: 2024 enforcement action analysisImportance of proactive strategies in handling investigationsDistinction between mandatory self-reporting and extraordinary cooperationNavigating the centralized process for enforcement referralsKey factors that influence enforcement outcomes and credit for cooperationRecommendations for improving compliance and engaging with regulatorsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In this episode of the Oyster Stew Podcast, our panel of financial services experts breaks down the key considerations for outsourcing critical functions, such as compliance, finance, and vendor selection. Whether you're launching a new firm, looking to scale efficiently, or navigating complex regulatory landscapes, outsourcing services can provide cost-effective expertise and operational flexibility.Our expert panel—Sarah Sutton, Candy Palugi, Evan Rosser, Jay Donlin, Fred Wagstaff, and Jeff Wilk—shares real-world insights on when outsourcing makes sense, how to assess your firm's needs, and the long-term benefits of working with experienced operations and compliance consultants. Key topics include:When Does Outsourcing Chief Compliance Officers Make Sense?How Outsourcing Can Help Growing Firms Stay FocusedCompliance, Testing & Risk Management: The Role of Independent ReviewsFinancial & Operational Outsourcing: When Should Firms Leverage External Support?Vendor Selection & Technology Strategy: Choosing the Right PartnersOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Building and maintaining strong relationships with regulators is not just beneficial, but essential. Join us for Part 2 as former regulators share their experience and insights into how to establish open, candid communication, and engage regulators on both professional and personal levels. Get tips on setting the right tone from leadership and fostering a culture of compliance. Stay on the right side of compliance while cultivating positive interactions with financial regulatory bodies.In this episode we'll build on Part 1 and cover:Dealing with Regulatory Violations: Identifying violations and deciding on the next steps.The Exam Process and Levels of Review: From deficiency letters to enforcement referrals, learn how regulators evaluate violations through multiple levels of review and how firms can proactively manage these stages.The Role of Cooperation - Discover why setting a tone of cooperation matters, and where to draw the line when the process turns adversarial.Educating Examiners: Learn why it is important to ensure they understand your operations in context and reduce the risk of misinterpretation.Culture of Compliance: Learn how tone at the top and a strong compliance culture influence examinations and relationships with regulators.Building Positive Relationships with Regulators: Get practical tips on engaging with regulators and industry working groups to foster mutual trust and gain valuable insights into regulatory priorities.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Ever wondered how to turn a regulatory exam into a strategic advantage? Join our discussion (Part 1 of 2) with former regulators Patrick Dennis, Evan Rosser, Ed Wegener, Jeffrey Hiller and Bill Reilly as they share their insights into what regulators consider when they come in to do exams, the art of managing document request lists, and how to enhance your firm's credibility.In this episode we'll explore:The shift in the role of risk analysts and how their insights are reshaping the scope and frequency of firm evaluationsThe various types of exams, from routine to for-cause and sweep examsThe art of managing comprehensive request listsWhy having a single point of contact for regulators within your firm is importantHow proactive communication and self-reporting enhances your firm's credibility while fostering a collaborative relationship with regulatorsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Unlock the secrets of crafting compliance manuals that truly work for your firm with insights from our regulatory compliance experts. Discover why using generic templates might be a recipe for disaster, and how aligning your written supervisory procedures with actual business practices can safeguard your firm's accountability and regulatory standing. In this episode you'll uncover:The top errors CCOs make with policy updates and procedural documentation. How to ensure accurate and timely delivery of Form ADV, Form CRS, and Reg BI Disclosures Regulatory filing errors that can cost you Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Listen to Part 1 of our two-part series on Common Compliance Mistakes as Oyster's regulatory compliance experts uncover how to spot, prevent, and correct the following issues:Communication Missteps: Closing the Gapsdiscover where CCOs often fall short in capturing off-channel communications such as texts and chat room interactions gain practical measures every firm should adopt Marketing Compliance Challenges Marketing presents a minefield of compliance challenges. In this episode we will:identify common mistakesdiscuss the importance of routine reviews and updates to your firm's marketing proceduresshare how to craft tailored disclosures in testimonials and endorsements to align with SEC requirementsoffer first-hand experiences with common issues during SEC examsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Our latest episode of Oyster Stew features industry veterans Dan Garrett, Jeff Wilk and Tim Buckler, who share their insights into the complexities of vendor risk and data protection. Discover how to protect client data amid the vulnerabilities brought by new vendors and implementing a robust strategy to ensure operational continuity and resilience. In this informative podcast, you'll learn:the importance of using structured processes like detailed scorecards and questionnaires to align with security, compliance, and operational standards like GDPR and CCPAthe critical role of data access controls, encryption standards and maintaining ownership of your datathe importance of securing sensitive data, even when outsourcing your operationshow to evaluate vendor capacity using a "trust, but verify" approach the necessity of negotiating strong Service Level Agreements (SLAs) to ensure vendor accountability, especially concerning Personally Identifiable Information (PII) Equip your organization with the tools needed for success in vendor risk management. By incorporating recognized cybersecurity frameworks such as NIST and ISO into vendor contracts, your firm can stay ahead of emerging risks, including challenges posed by advancements in AI technology. Join us for essential insights that will arm your organization against the complexities of the digital world.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Unlock the secrets of making informed technology decisions with Oyster Consulting's technology experts Jeff Wilk and Dan Garrett, as they share their expertise in navigating the build vs. buy decision. Discover how understanding the hidden costs of software development can make or break your strategic planning, especially if your firm lacks technical expertise. Jeff and Dan provide insights into:Cost ConsiderationsTeam Dynamics and CultureIntegration and Data StrategyCompliance and SecurityManaging Vendor RelationshipsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Ever wondered how significant growth could impact your broker-dealer registration requirements? Join us as we unravel the complexities with industry experts Ed Wegner and Lisa Robinson. Lisa leverages her extensive experience as Senior Director of the FINRA Membership Application Program (MAP) group to provide you with essential tips on registering your firm with FINRA and completing a Continuing Member Application. From identifying key triggers like acquisitions and substantial asset transfers to understanding the importance of resolving outstanding customer claims, this episode is packed with invaluable insights to help you make informed decisions during your firm's expansion journey.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Adapting your infrastructure while managing your firm's growth can present unique challenges. Join Oyster's Ed Wegener, Brent Nicks and Pete McAteer as they share their insights for scaling and sustaining growth. In this podcast you will: · Gain firsthand insights into the complexities of rapid organic and inorganic expansion · Examine the significance of understanding your firm's core strengths and growth goals, alongside the importance of a detailed due diligence checklist· Learn the importance of setting realistic expectations and managing the pace of acquisitions for seamless integration· Discover the value of a cohesive platform and the strategic importance of evaluating and upgrading your tech stack regularly· Understand the pivotal role played by key personnel like Chief Operations Officers and Compliance Officers in the onboarding process· Understand the importance of continual evaluation and adaptation, ensuring your firm's growth is sustainable and aligned with its core mission and values This segment is all about balancing synergies and differences to effectively manage risks and integrate new practices, ensuring your firm's long-term success. Don't miss these invaluable insights to help your firm thrive without compromising on operational efficiency and compliance. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Join us as Oyster's Jeff Wilk and Envestnet Chief Relationship Officer and Group Head of Wealth Solutions and Asset Management Distribution, Andrew Stavaridis, bring you an insider's perspective on the industry's technology evolution, from outdated point solutions to cutting-edge platforms that are accessible, modular, and perfectly tailored for mid-sized to smaller firms. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In this episode of the Oyster Stew podcast, our experts, Dan Garrett and Jay Donlin, take you on a deep dive into the world of custodians. We'll explore everything from full-service solutions that handle your middle office needs to niche players specializing in FinTech and money management. Whether you're a breakaway advisor, a FinTech firm, or an established registered investment advisor (RIA) looking to make a change, this podcast will equip you with the insights you need to make an informed decision. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Embarking on the path to becoming an RIA is an exhilarating time filled with opportunities and challenges, and our experts are here to guide you every step of the way. In this episode, we'll delve into essential aspects of the registration process and compliance requirements. By addressing these critical components, you'll set a solid foundation for your firm's success. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
When starting a Registered Investment Advisor there are fundamental aspects you must understand before taking this step. Oyster's experts Brent Nicks, Nolan Hughes and Dan Garrett provide an overview into things you need to think through and put in place to build a solid foundation for your firm's success:Establishing Key PositionsNavigating PartnershipsRisk Management and ComplianceOperations Must-HavesChoosing a CustodianStrategic Growth PlanningOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
May 2024 saw the implementation of two major industry projects: T+1 and go-live compliance for CAT/CAIS reporting. Experts Jeff Gearhart and Ralph Magee provide the latest updates on T+1 from industry meetings and key participants, including Affirmation and fail rates, margin balances, securities lending and his outlook for the future around T+1 Our experts also discuss what industry members and clients are seeing post implementation, what they can expect to see in the future, insights into issues that firms are currently struggling with, as well as the need for industry members to consider the data they are providing FINRA and ensure they are prepared for inquiries and sweeps. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
If you are a start-up or an established wealth management firm, determining whether you want to manage your own operating platform or outsource it is an important strategic decision. There are many factors to consider, from cost and available resources to integration and client experience. In today's podcast Oyster experts Dan Garrett and Jay Donlin share their expertise on what goes into establishing and managing your own platform, common pitfalls and using out-of-the-box vendors vs customized builds. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In today's podcast Oyster experts share their insights into what to think about as you prepare to register an alternative trading system, or ATS. Jeff Gearhart and Lisa Robinson will discuss challenges and misconceptions, and then Lisa will take us through some highlights of the FINRA application process. We finish up with other things to consider once your ATS is up and running. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
After nearly a decade of delays, FINRA is finally enacting amendments to Rule 4210. The new Covered Agency Transaction requirements became effective May 22nd, 2024. Oyster's Jeff Gearhart, Jose Fernandez and Stephen Mellert, co-founder of Matrix Application's margin calculator, share their insights into what the new rule means for market makers, the capital implications, and the importance of automation. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In today's our experts discuss an area where FINRA spends a lot of resources – Communications and Sales. We'll look at challenges our clients are facing and best practices when it comes to:· Communications with the Public and Advertising· Reg BI and its focus on the Care Obligation· Complex Products, from variable annuities to private placementsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Oyster experts Pete Bowman and Dan Garrett share their insights into what the broker-dealer community is facing when it comes to evolving platforms, changing business models, AI technology, firm acquisitions and the platform consolidations that happen afterward. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Oyster Consulting experts Casey Dougherty, Dan Garrett and Bryan Jacobsen discuss FINRA's exploration of AI, supervisory obligations with regard to outsourcing AI technology to firms, and best practices for maintaining compliance and protecting clients. Learn more in our previous podcast, part 1 of the series, as our experts share their insights on AI's impacts on Regulation Best Interest and recordkeeping, with a special focus on how the SEC's actions around AI will affect compliance teams in the wealth management industry. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
The wealth management industry is shifting towards more data-driven, personalized and secure services. In this week's Oyster Stew podcast, Oyster experts discuss the industry's relationship with AI today, the role of Artificial Intelligence in Best Interest rules and recordkeeping, and the impacts of the SEC's AI initiative. Get Oyster's insights into what SEC sweeps and investigations mean for Compliance teams, and what firms should be doing to mitigate the risks that come with adopting AI technology. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In today's episode of the Oyster Stew podcast, Oyster experts Len Derus and Tim Buckler delve into a crucial topic: Regulatory expectations and observations regarding cyber risk management. Learn more about the responsibilities of Chief Compliance Officers (CCOs) and what the regulatory focus on cybersecurity means for compliance programs. Join us as we examine the key insights from FINRA's annual report, new SEC rules, and the implications for wealth management firms.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Our experts and special guest Susan Light, Partner and Co-chair of Broker Dealer Regulation at Katten Muchin Rosenman LLP, explore the new SEC rules expanding the number of firms required to register with a self-regulatory organization. They share their experience and insights into the rule changes, including what it means for the firms who must comply, the FINRA registration application process, challenges non-broker dealer entities may experience adapting to FINRA membership, and how FINRA has historically handled rule changes involving new membership. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Oyster's seasoned professionals will share their experience, providing invaluable insights into FINRA's AML priorities. From customer due diligence to transaction monitoring, they'll guide you through the key considerations identified by FINRA, empowering you to elevate your AML framework. They also explore the findings unearthed in FINRA's examinations. Our experts will discuss prevalent issues discovered, offering tangible solutions to address them head-on. Whether it's enhancing customer risk assessments or optimizing Suspicious Activity Reporting (SAR) processes, you'll gain actionable strategies to bolster your AML program. Our industry practitioners will draw from their own experiences, providing real-world examples of how these practices can transform compliance efforts. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In this week's Oyster Stew Podcast, our Strategic Planning and Execution experts, Pete Bowman, Pete McAteer, Jay Donlin, Jeff Wilk, and Jeff Gearhart share their perspectives on the four critical areas that are transforming the clearing and custodian industry: Technology advances and accessibility are reshaping how firms look at clearing and custodian services. Economics, from interest rates to market fluctuations, emerge as a significant player. Client Engagement: Firms must determine how best to foster meaningful, compliant and efficient connections in a digital world.Managing risk and compliance always requires industry firms to assess their practices and review their platforms, and vendor management practices. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
A lot has happened in the last year when it comes to compliance in the financial services industry. Today our consultants share their perspectives and what we heard from our clients about the following areas of regulatory focus, including DOL Retrospective Reviews, outside business activity monitoring, private fund rules, direct business, off channel communications, cybersecurity, and FINRA's branch inspection pilot program. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
When regulatory remediation is required and your firm is working under consent orders, it is important for financial services firms to have a plan to efficiently execute the process to avoid excess disruption, manage risk and reputational damage, and to navigate the firm's continuing relationship with the regulators. In today's podcast Oyster's Tim Buckler and Paul Saroj, SVP of Regulatory Enforcement remediation at Simpluris, talk about the remediation process, from data crunching to mailing the checks. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
A necessary part of any financial services firm's business is handling disputes that arise. Whether it's a complaint from a customer, litigation, regulatory inquiries and investigations, firms need to have a well-thought-out process for handling these disputes. In today's podcast, Oyster Consulting experts Ed Wegener, Evan Rosser and John Ivan discuss · how to approach the dispute review· how to work with and manage interactions with key stakeholders· managing the information gathering process · factors to consider when determining whether a complaint has merit· keys to an effective investigation Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Each year the SEC publishes its exam priorities for the coming year. Join us for today's podcast as Oyster Consulting's Capital Markets experts Jeff Gearhart, Frank Childress and Jose Fernandez share their thoughts on the priorities related to broker-dealer trading practices including:· Rule 15c2-11 · Reg SHO· Reg ATS and filing requirementsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Join us for Part 2 of our discussion with Mark Hendrickson from D.A. Davidson Companies about where CAT and CAIS reporting stands today, the pain points firms are facing and what they should be doing to manage the current and upcoming reporting requirements. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
FINRA's Consolidated Audit Trail, or CAT, continues to evolve from account-centric trade reporting requirements to now including customer-centric CAIS reporting. Today's podcast guest is Mark Hendrickson, Head of Trading and Streetside Operations at DA Davidson Companies. Mark is also an Industry Advisory Committee Member representing clearing firms on the US Advisory Operating Committee of the Consolidated Audit Trail. Join us as Oyster CEO Buddy Doyle and Consultants Jeffrey Gearhart and Ralph Magee chat with Mark about · the current state of CAT/CAIS reporting,· industry concerns, · what we see coming in 2024 and beyond, and· how DA Davidson has been proactive and successful in preparing for and executing its CAT requirements. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Many introducing broker-dealers are moving to affiliate with another broker-dealer. Join Oyster Managing Directors Pete Bowman and Dave Williams as they discuss what affiliation means for broker-dealers, what is driving firms to the strategy, and what part the advisory side of the business plays when firms consider affiliation. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Oyster's Capital Markets experts were recently featured on the Bond Dealer Association's podcast, “Bonding Time,” discussing issues affecting the U.S. fixed income markets. The podcast, hosted by Michael Decker of BDA, covers:Fair Pricing for Fixed Income products and compliance with Rule 2121, and MSRB Rule G30 Best execution and the SEC's new proposalThe latest on FINRA and MSRB trade reporting, including the proposals to shorten the trade reporting time to one minuteMSEC Rule 15-c-12 disclosure requirementsOyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Regulatory exams and sweeps are enough to keep any CCO up at night. In today's podcast, Ed Wegener and Len Derus, both former FINRA regulators, walk through what helps inform regulator decisions about what to look for in an exam, how regulators identify areas for a sweep, and how you can use sweep letters to your advantage. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In order to become a registered broker-dealer, you must be registered with FINRA. Applying for this membership is an extensive process with multiple steps. We receive many, many questions about submitting a New Member Application (NMA) with FINRA and when a firm needs to submit a Continuing Membership Application (CMA). In this episode of the Oyster Stew podcast, Oyster's Ed Wegener and Lisa Robinson shares their thoughts on fast-track application, when a CMA is necessary, and what to think about before submitting. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
CEOs of broker-dealers are faced with the continuous pressure to innovate and increase profits. If these aren't happening, there is also pressure to sell. Successful broker dealers know that understanding how to navigate the demand for innovation and growth, or for changing the business model entirely is key for long-term prosperity. In today's podcast, Pete Bowman, Managing Director of Oyster's Strategic Planning and Execution team and Dave Williams, Head of Business Development look at the increasing pressures facing broker dealers in today's markets and offer insight into how best to handle them, giving you a better chance of achieving success as well as satisfying clients both old and new.Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
Platform technology, regulatory pressure, mergers and acquisitions are all driving financial services firms to re-evaluate their business models. In today's podcast, Pete Bowman, Managing Director of Oyster's Strategic Planning and Execution team and Dave Williams, Head of Business Development share their insights on how some firms are positioning themselves for the future. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In December 2022 the SEC offered 4 market structure proposals. The proposal to modernize Rule 605 was met with broad-based industry support. Oyster Consultant Frank Childress and guest Ted Karn, founder of The Karn Group, walk through what modernizing Rule 605 will mean for the industry, and what firms should be doing to prepare. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
The investing population has grown and so has their wealth. This is good for their finances, but also creates more opportunities for fraud and abuse. Bob Mooney, General Counsel of Oyster Consulting, and Ron Long, Principal of Long Life Consulting, walk through the issues around protecting elder and vulnerable investors against fraud and abuse, and what financial services firms are doing to combat it. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In February, a US District Court judge challenged the DOL's FAQs around the fiduciary investment advice definition to rollover recommendations. In today's episode, Part 2 of 2 discussing DOL PTE 2020-02, experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath join Oyster's Ed Wegener will be discussing this case and other legal challenges, and the impacts these will have, if any. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In today's podcast, DOL PTE 2020-02 experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath will be discussing the current state of the industry's implementation, how different firms are approaching the requirements, self-correction, and what they see as the DOL's approach. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In today's episode of Oyster Stew, our seasoned outsourced CCOs walk you through things to consider when deciding to outsource your CCO role, from the expertise and expanded resources an outsourced CCO brings, to common mistakes inexperienced CCOs make and concerns firms may have around outsourcing such an important role. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
In part 3 of our Digital Assets mini-series, Steve Gannon and Ed Wegener continue their discussion on the crypto landscape, the regulatory fallout around the determination of what constitutes a security, and the SEC's actions. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
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