A Trilogy in Five Parts

From “Don’t panic” to “So once you do know what the question actually is, you’ll know what the answer means” to “I don’t know what I’m looking for . . .” to “Life’s bad enough as it is without wanting to invent any more of it” to (finally) “So long and thanks for all the fish“, all of the Tips from the Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam are available in one document.

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Because broker-dealers, registered investment advisers and their associates want to spend their time serving their clients, not the SEC, FINRA or state regulator.

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Not the Same CAT

Not the Same CAT

I do not think that it is an exaggeration to write that historically the public’s view of securities trade reporting has been a collective yawn. (In fact, that sentiment may also be true for industry participants – until, of course, it goes wrong.) This changed with a recent lawsuit filed in...

Not the Same CAT Continue reading…

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 5

Your day was going great.  You helped a client with a particularly complex situation.   Another client submitted the paperwork to transfer accounts to your firm.  You did not have to deal with a bulldozer trying to demolish your home.  Then you received a message from a “@sec.gov” or “@finra.org” email address, which...

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 5 Continue reading…

It Is Still Art

In April 2024, the Securities and Exchange Commission’s Division of Examinations (“EXAMS”) posted another Risk Alert concerning the Marketing Rule (Advisers Act Rule 206(4)-1). This was EXAMS’ third Risk Alert about the rule, following those it published in June 2023...

It Is Still Art Continue reading…

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 4

Your day was going great.  You helped a client with a particularly complex situation.   Another client submitted the paperwork to transfer accounts to your firm.  You did not have to deal with a bulldozer trying to demolish your home.  Then you received a message from a “@sec.gov” or “@finra.org” email address, which...

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 4 Continue reading…

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 3

Your day was going great.  You helped a client with a particularly complex situation.   Another client submitted the paperwork to transfer accounts to your firm.  You did not have to deal with a bulldozer trying to demolish your home.  Then you received a message from a “@sec.gov” or “@finra.org” email address, which...

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 3 Continue reading…

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 2

Your day was going great.  You helped a client with a particularly complex situation.   Another client submitted the paperwork to transfer accounts to your firm.  You did not have to deal with a bulldozer trying to demolish your home.  Then you received a message from a “@sec.gov” or “@finra.org” email address, which...

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 2 Continue reading…

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 1

Your day was going great.  You helped a client with a particularly complex situation.  Another client submitted the paperwork to transfer accounts to your firm.  You did not have to deal with a bulldozer trying to demolish your home. 

Then you received a message from a “@sec.gov” or “@finra.org” email...

Tips from The Hitchhiker’s Guide to the Galaxy for Responding to a Regulatory Exam – Part 1 Continue reading…