Tuesday, June 28, 2016

SEC Issues Proposed Rules on Business Continuity

The Securities and Exchange Commission today proposed a new rule that would require registered investment advisers to adopt and implement written business continuity and transition plans.

The proposed rule is designed to ensure that investment advisers have plans in place to address operational and other risks related to a significant disruption in the adviser’s operations in order to minimize client and investor harm.

"While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such disruptions and in some cases, minimize the likelihood of their occurrence, which is an objective of this rule," said SEC Chair Mary Jo White. "This is the latest action in the Commission’s efforts to modernize and enhance regulatory safeguards for the asset management industry, which includes rules previously proposed that would modernize the information reported to the Commission and investors, enhance fund liquidity management, and strengthen the regulation of funds’ use of derivatives."

Link to SEC guidance >> https://www.sec.gov/rules/proposed/2016/ia-4439.pdf

AdvisorAssist will follow-up on this post with a detailed analysis.

- The AdvisorAssist Team

Monday, June 27, 2016

Vermont to Raise Advisor Fees - (July 1, 2016)

Vermont is increasing its fees for registration and renewals, effective July 1, 2106.

Fee changes are as follows:

  • Investment Advisor - Firm > $300 (up from $250)
  • Investment Advisor Representative > $80 (up from $55)

These fees will be in effect July 1, 2016 for new registrations and for the 2017 renewal process this fall.

If you have any questions, please email support@advisorassist.com.