The Business Continuity Plan—Are You Ready?

Posted by Keith Crowley

November 7, 2018 at 1:30 PM

On January 13, 2018, at 8:07 A.M., residents and visitors in Hawaii picked up their beeping and vibrating cell phones to an ominous text message: a ballistic missile was heading right for them and they should seek immediate shelter. It would be 38 minutes before emergency personnel notified island inhabitants that the alert was sent in error.

The Hawaii Emergency Management Agency identified numerous breakdowns that cultivated the environment in which a wayward alert could occur. Because of a poorly drawn-up business continuity plan, there was no “false alert” code that could be sent in the case of an erroneous message. Agency administrators never prepared for such a situation.

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Topics: Compliance

5 Compliance Tips for Anticipating Shifting Investor Needs

Posted by Andrew Phillips

May 8, 2018 at 10:00 AM

Over the next three decades, trillions of dollars are poised to transfer from baby boomers to their millennial heirs. And in just the next few years, according to Roubini ThoughtLab’s Wealth and Asset Management 2021 study, the U.S. is expected to enjoy an increase of nearly $45 trillion in wealth. In order for advisors to capitalize on this opportunity, they will need to adapt their businesses to remain in compliance with applicable regulations. The compliance tips included here can help you anticipate and accommodate shifting investor needs to support Generation X and millennial clients and stay up to date on important regulatory changes.

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Topics: Compliance

Creating a Firm Culture That Puts Your Clients First

Posted by Heather Doherty

November 1, 2017 at 1:30 PM

When you and your clients make the mutual decision to engage in a relationship, it generally starts with a shared vision and some level of trust. From there, in order to continually build the relationship, you must go about creating a firm culture that puts your clients first. But what exactly does that entail?

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Topics: Compliance

FINRA’s Culture of Compliance: How Commonwealth Measures Up

Posted by Paul Tolley

August 16, 2016 at 10:00 AM

This year, FINRA is undertaking a review of how broker/dealers establish, communicate, and implement cultural values—and whether a particular firm’s cultural values appear to be guiding its overall business conduct.

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Topics: Compliance

Dropping Your FINRA Registrations: A View from Compliance

Posted by Scott Wilkinson

July 6, 2016 at 1:30 PM

A few years back, my wife and I decided to have a child. We read What to Expect When You’re Expecting. We took birthing classes. We built the crib and packed the hospital bag. Everything was going according to plan—until it wasn’t. My daughter changed positions at the last moment and was delivered by emergency cesarean about an hour later. Fortunately, everything turned out fine, and our little girl has brought endless joy to our lives.

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Topics: Compliance

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