Insights - Smartria

October 1, 2021

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SEC Scrutinizing RIAs on 12b-1 Fees, Revenue Sharing, and Wrap Fees

The SEC recently took enforcement actions against three Registered Investment Advisers (RIAs) that breached their fiduciary duty to advisory clients. In particular, the SEC took disciplinary action against RIAs over issues related […]

September 2, 2021

Published by Mark Cunha

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How to Train Your Team on New RIA Compliance Tech

Bringing on new tech for RIA compliance can be a major undertaking on top of handling the constantly-updated compliance regulations a firm must navigate. Usually any new tech is software of some […]

August 21, 2021

Published by Mark Cunha

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SEC Findings: Wrap Fee Initiative

The SEC has been watching wrap fee programs for quite a while. From 2017-19, the SEC’s annual examination priorities named wrap fee programs as putting investors at risk. The SEC’s Division of […]

August 4, 2021

Published by Mark Cunha

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SEC Charges 21 RIAs for Form CRS Filing and Delivery Failures

On July 26, 2021, the SEC announced that 21 Registered Investment Advisers (RIAs) settled charges alleging that they failed to file and deliver their client relationship summaries, known as Form CRS, in […]

May 14, 2021

Published by Mark Cunha

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Fiduciary Duty Is Broader Than Many Think

A Registered Investment Adviser’s (RIA) and its Investment Adviser Representatives’ (IARs) obligations as fiduciaries are quite extensive. Even seasoned Investment Advisers may not fully understand their fiduciary obligations. Fiduciary duty encompasses much […]

March 9, 2021

Published by Mark Cunha

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2021 SEC Exam Priorities

On March 3, 2021, the SEC’s Division of Examinations (Division) published its examination priorities for the year. These priorities are the driving force behind the Division’s examinations but are not exhaustive. Examiners […]

February 13, 2021

Published by Mark Cunha

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New York Regulatory Update

The New York State Department of Law (the “Department”) recently adopted new regulations that went into effect on February 1, 2021. These new regulations govern the registration and examination requirements for investment […]

February 12, 2021

Published by Mark Cunha

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What Can RIAs Learn About the SEC’s Ponzi Scheme Charges?

On February 4, 2021, the SEC charged three individuals and their affiliated entities with running an alleged Ponzi scheme that raised over $1.7 billion from securities issued by an asset management firm […]

December 29, 2020

Published by Mark Cunha

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RIAs Can Expect Big Changes with SEC’s New Marketing Rule

Guest post by Ara Jabrayan On December 22, 2020, the SEC enacted the new Marketing Rule, which will have an enormous impact on Registered Investment Advisers (RIAs). The new rule will replace […]

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