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About Fairview®

Founded in 2005 with the goal of developing streamlined solutions for investment advisers, Fairview® is now servicing investment advisers, foundations, and funds with over $196 billion in collective assets.

Regulation Best Interest: What You Should Know

Regulation Best Interest: What You Should Know WHAT HAPPENED? On June 5, 2019, the Securities and Exchange Commission adopted Regulation Best Interest (BI) which is intended to raise the standard of conduct for broker-dealers working with retail customers. The regulation had been under consideration since April 2018 and was [...]

Investment Adviser Overcharges Clients by $367,000, Charged with Fraud

Investment Adviser Overcharges Clients by $367,000, Charged with Fraud WHAT HAPPENED? On May 28, 2019, the Securities and Exchange Commission charged an investment adviser with overcharging clients by at least $367,000. In 2015 and 2016, Stephen Brandon Anderson, owner and operator of River Source Wealth Management, charged a majority [...]

SEC Adopts Rules and Interpretations Including Form CRS and Regulation Best Interest

SEC Adopts Rules and Interpretations Including Form CRS and Regulation Best Interest WHAT HAPPENED? On June 5, 2019, the Securities and Exchange Commission announced the adoption of a package of rules and interpretations intended to increase transparency for retail investors in their relationships with investment advisers and broker-dealers. The [...]

OCIE Warns of Cloud-Based Server Security Risks

OCIE Warns of Cloud-Based Server Security Risks WHAT HAPPENED? Last week, the Office of Compliance Inspections and Examinations (OCIE) discovered several security risks related to the storage of customer information by broker-dealers and advisers, particularly related to the use of cloud-based servers. The primary risk was found to stem from firms [...]

By | 2019-06-11T19:43:21+05:00 May 29th, 2019|Fairview® Flash Reports, Uncategorized|

Form CRS: What You Should Know

Form CRS: What You Should Know WHAT HAPPENED? In April 2018, the SEC released a proposed rule which would require investment advisers to provide a relationship summary to prospective clients. Form CRS, or Form 3, is intended to give retail clients simple and straightforward information about investment advisers, written [...]

By | 2019-06-07T01:40:16+05:00 May 21st, 2019|Fairview® Flash Reports|

FINRA Cites Unreasonable Email Review

FINRA Cites "Unreasonable" Email Review - Firm Fined, Censured WHAT HAPPENED? On April 12, 2019, the Financial Industry Regulatory Authority (“FINRA”) issued a settlement with a Salt Lake City-based broker-dealer, Wilson-Davis & Company (“Wilson-Davis”), due to poorly designed and implemented email review procedures. The misconduct was observed January-August 2013 [...]

By | 2019-06-07T01:55:49+05:00 May 7th, 2019|Fairview® Flash Reports|

OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues

OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues WHAT HAPPENED? On April 16, 2019, the Office of Compliance Inspections and Examinations (“OCIE”) published a list of compliance issues in connection with Regulation S-P. Regulation S-P requires registered investment advisers, investment companies, and broker-dealers (“registrants”) to provide notice [...]

By | 2019-06-12T18:39:45+05:00 Apr 23rd, 2019|Fairview® Flash Reports|