The seventh episode of the Securities Compliance Podcast: Compliance in Context discusses Jay Clayton’s departure from the SEC and the first real cases from the SEC Enforcement Division's Exchange-Traded Products Initiative.
For the interview segment, host Patrick D. Hayes welcomes in former NSCP Chair and industry stalwart Miriam Lefkowitz to do a deep dive on how firms can best prepare for the practical application of Regulation Best Interest into their compliance programs.
Finally, Patrick wraps up today’s show with another installment of the What’s On My Mind series, where the focus will be on the recent rule proposal and for “finders” and how this broker-dealer exemption could be just what we need to help struggling businesses with capital formation.
Please tune in and subscribe for future episodes at ComplianceInContextPodcast.com.
Episode 7 Topics:
Jay Clayton’s announcement of his departure from the SEC
Major settlement related to improper sales of volatility-linked exchange-traded products.
REG BI and Form CRS preparation.
Practical application of the rule after a full quarter in place
How to avoid trip wires
Comparing good vs. bad disclosures
Methods for staying current with regulations and the NSCP Reg BI Forum
“I think disclosures around monitoring are challenging because there are responsibilities and duties that flow from whether your broker or whether you're an investment advisor.”
“The SEC did discuss...the nature and the scope of the review, they've done to date and true to their word. They're looking for good faith efforts to comply. And for the most part they found it.”
What's On My Mind
- SEC Commissioners Encourage Small Business Advisory Committee to Consider Proposed Registration Exemptions for “Finders.”
About the Securities Compliance Podcast: Compliance in Context
Introducing the Securities Compliance Podcast, "Compliance in Context" presented by Calfee, Halter & Griswold and the National Society of Compliance Professionals and hosted by Patrick D. Hayes, Senior Counsel and leader of Calfee's Investment Management practice.
Designed as a personal master class for the securities legal and compliance professional, this podcast embodies Patrick’s passion to help you put Compliance In Context™ by combining the technical expertise of industry thought leaders and innovators with the practical experience of doers and key decision makers.
The opinions expressed by guest speakers and panelists during Securities Compliance Podcasts may not necessarily reflect the viewpoints of the attorneys and professionals of Calfee, Halter & Griswold LLP or its subsidiaries or affiliates. Calfee’s educational content is intended to inform and educate readers about legal developments and is not intended as legal advice for any specific individual or specific situation. Please consult with your attorney regarding any legal questions you may have. With regard to all content including case studies or descriptions, past outcomes do not predict future results.
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