Fiduciary Links: Should the SEC consider third-party audits?
Posted by on March 24, 2014
>>>fi360 and CEFEX recently submitted comments to the SEC regarding its National Examination Program for registered investment advisers. There seems to be no end in sight to the chronic underfunding of the SEC, leaving the agency unable to meet its inspection targets. The SEC has previously considered incorporating independent compliance reviews into their enforcement program, a solution that we believe they should pursue. In our comments, we suggest that if a firm has undergone a reliable, third-party audit, then that can be used as a factor when formulating an internal risk rating for each firm and deciding which advisor firms should be inspected. This would help supplement surprise inspections by SEC staff and make best use of their limited resources.
>>>If you're an advisor who markets on Facebook, make sure you read the InvestmentNews article about how changes to the system's algorithm have made it more difficult for you get content to your audience. You'll need to start paying for premium services if you want to make best use of the social media platform, which means you'll also want to implement a strategy to make sure you get the best value out of that cost.
Now on to the rest of the week’s best links:
News and columns from the leading trade, consumer, and mainstream media:
- 401(k) fiduciary lawsuit raises questions on record keeping [InvestmentNews]
- Is it time for a new CRM? [InvestmentNews]
- How to build a team around your succession plan [InvestmentNews]
- SEC’s Mary Jo White directs staff to develop fiduciary options document [InvestmentNews]
- What’s working in tech: 3 advisors share their stories [ThinkAdvisor]
From the organizations/associations/government/academia:
- SEC approves amendments to uniform branch office registration form, form BR [FINRA]
- SEC approves new supervision rules [FINRA]
From the blogs:
- Trending topics for ERISA plan sponsors [FiduciaryNews]
- Three imperatives for good project managers [Harvard Business Review]
- Four steps to managing uncertainty [Practice Management Center]
- Even more proof American’s think it’s a great time to retire [Time, Business & Money]
Articles your clients are reading, (or should be):
- Time well spent: choosing an IRA or a restaurant? [Chicago Financial Planner]
- When to consider making a Roth IRA conversion [US News]
- The secret ingredient to a happy retirement: patience [US News]
- Half of workers lack retirement benefits [US News]
