Sunday, January 27, 2019


At least for the time being, the SEC is open for business. [See Commissioner Clayton's remarks]

AdvisorAssist will be putting forth best efforts in the coming days to connect with the registrations and inspections staff to resolve any registration and examination matters.

As we all know, these folks have been out of work for more than a full month. Think of your first day back to work after a week's vacation. We'll be in touch promptly with any information, timelines or actions plans we receive.

Thank you

Chris Winn and the AdvisorAssist Team

Wednesday, January 16, 2019

Notification of 2019 DFS Cybersecurity Filing Requirements

Notification of 2019 DFS Cybersecurity Filing Requirements

On December 31, 2018, a notification was sent to those individuals who are licensed with the New York State Department of Financial Services ("DFS"), that their Notice of Exemption has expired. The DFS is a regulatory body that supervises banks, mortgage originators, and insurance companies/agents, among others. However, the DFS does not supervise registered investment advisors or broker-dealers.

Therefore, individuals received the notification "2019 DFS Cybersecurity Filing Requirements" because the individual has an insurance license registered with New York and filed for an exemption to the cybersecurity rules provided by the DFS (LINK).

If an individual has an active insurance license and filed for an exemption last year, they are required to re-certify to the State of New York that they are relying on the exemption to the rule, by filing through the DFS portal (LINK). Please note, the filing is due no later than February 15, 2019.

Lastly, we would suggest that any individual who has an active insurance license reach out to their insurance affiliates and their compliance departments to discuss the details of the DFS cybersecurity rules. They may be able to provide further assistance and guidance to this rule and how it applies to their insurance business.

AdvisorAssist Team