Heightened Enforcement on Dually Registered Broker-Dealers and Advisers: Best Compliance Practices You Should Know
The brokerage landscape has been continuously evolving these past years and is being subjected to intensified regulatory scrutiny. With the anticipated finalization of the Securities and Exchange Commission’s (SEC) improved standard of care known as the Regulation Best Interest (Reg BI), it is expected that the regulatory framework of dual-registered broker-dealers and investment advisers would change drastically. The Reg BI proposal aims to mitigate financial conflicts by obliging brokers to put their client’s financial interests ahead of their own.
With these anticipated changes, being in the know of the latest updates is not the only concern of broker-dealers and investment advisers. It is also important to improve compliance capabilities and performance to avoid potential risk and pitfalls.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent enforcement trends involving dually registered broker-dealers and advisers. Speakers will also tackle all important compliance practices surrounding this significant topic.
Some of the major topics that will be covered in this course are:
- Dually Registered Broker-Dealers and Advisers: Trends and Developments
- Best Compliance Practices and Obligations
- Risks and Pitfalls
- Opportunities and Challenges
- Future Implications and Outlook
Murphy & McGonigle
Alston & Bird LLP
- Regulation Best Interest – Run-through and Status; Form CRS
- WSPs and Supervision - Overlap/Gaps Between Functions
- Disclosure Issues – Compensation; Disciplinary History; Performance; Roboadvice
- Conflicts – Selection of Fee-Based vs. Brokerage; Use of Affiliates; Best Execution; 529 Initiative
- Other issues:
- Cybersecurity/Safeguarding Customer Information
- Digital Assets
Who Should Attend:
- Financial Advisers
- Investment Advisers
- Banking and Finance Professionals
- Risk and Compliance Officers
- In-house Counsel
- Securities Attorneys
- Securities Lawyers
- Other related professionals
Meghan Carey focuses her practice on providing regulatory and compliance advice to financial institutions, particularly investment advisers, sponsors of private investment funds and other pooled investment vehicles, and broker-dealers.
Prior to joining Murphy & McGonigle, Ms. Carey was a vice president and senior compliance officer at a large private equity firm. There she counseled the firm’s sponsors and advisers to energy and infrastructure private funds, including co-investment vehicles, separately managed accounts, and closed-end funds on formation, structuring, organization, and regulatory and compliance issues. She also provided advice regarding substantive regulations of the federal securities laws including advertising, custody of client and investor funds, valuation, allocation of fees and expenses, insider trading, cybersecurity, and AIFMD disclosure requirements.
Meghan Carey focuses her practice on providing regulatory and compliance advice to financial institutions, particularly investment advisers, sponsors of private …
Tim Foley is a counsel at Alston & Bird and based in Washington D.C. Tim advises bulge-bracket investment banks and other top-tier financial institutions, particularly U.S.-registered broker-dealers, in regulatory compliance and enforcement matters involving the SEC, FINRA, self-regulatory (SRO) agencies and state and foreign regulatory agencies. Tim has extensive knowledge of trading operations and sales practices of institutional and retail broker-dealers.
Tim Foley is a counsel at Alston & Bird and based in Washington D.C. Tim advises bulge-bracket investment banks and …
Print and review course materials
Method Of Presentation:
General knowledge of securities regulation
NY Category of CLE Credit:
Areas of Professional Practice
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About Murphy & McGonigle
Murphy & McGonigle serves the litigation, enforcement defense, and regulatory counseling needs of clients across the full spectrum of the financial services industry – from national banks, broker-dealers, investment advisers, and hedge funds, to national and international securities markets and exchanges. Many of the firm’s partners formerly served in senior positions in the SEC, US Department of Justice, FINRA, CFTC, and the New York State Department of Financial Services, and several served in senior executive positions in major financial institutions on Wall Street.
About Alston & Bird LLP
Founded in 1893, Alston & Bird is a leading national law firm and has offices in Atlanta, Beijing, Brussels, Charlotte, Dallas, Los Angeles, New York, Raleigh, San Francisco, Silicon Valley, and Washington, D.C. The firm's attorneys provide a full range of services to domestic and international clients conducting business around the world. Counseling clients from what was initially a local context quickly expanded to regional, then national levels, and now spans a global economic environment. Alston & Bird has overlaid its broad range of legal skills and business knowledge with a commitment to innovation and technology.