NEW YORK (Thomson Reuters Regulatory Intelligence) – The end of the year is often when investment adviser compliance departments plan for representative training for the coming year. Adviser training must reflect the firm’s unique operations and population of representatives, but it must also reflect broader compliance matters in the industry. A training plan that incorporates both firm-specific issues and “hot topics” will not only reduce regulatory risk on many fronts but promote a culture of compliance and risk management within the firm.
For 2018, these hot topics include cyber security, social media, electronic messaging and disaster recovery. Whether a firm is choosing training topics from a third-party catalog or creating content of its own, such topics should be high on the list for consideration.
BACKGROUND
Broker-dealers have been subject to detailed training requirements for many years. The training requirements for broker-dealers include a firm element and an individual element consisting of continuing education based on the individual securities licenses held.
Investment advisory firms do not have a specific firm-element requirement, and even though many…
