Penalty - fraud

Failure To Adopt Continuity & Succession Plans May Lead to Stiff Penalties

At its recent LINC Conference, TD Ameritrade held a panel discussion, Washington Flyover: Policy Coming Your Way, moderated by Skip Schweiss, TD Ameritrade’s managing director for advisor advocacy and industry affairs. Schweiss highlighted in his comments “While surveys suggest most advisors are aware of the coming (business continuity) rule, less known is the fact that…

Game On! NASAA Issues Model Rule For Continuity and Succession Planning

On April 13th, the North American Securities Administrators Association (NASAA) issued its model rules for continuity and succession planning. The new rule asks state regulated RIAs to implement continuity and succession plans to protect clients from “key-man” risk – the risk that key personnel at small wealth management firms might suffer death or disability and…