News & Insights

Let me demonstrate how serious this is to me with a short story. In the summer of 2020, our family experienced two significant losses as a result of the pandemic that is the covid19 virus...
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If you are a risk and compliance professional in financial services, you know that there is a ton of free information out there to help you do your job. So why would you work with...
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Allia Consulting internal audit
Section 205 of the Investment Advisers Act of 1940 outlines requirements for Investment Advisory Contracts. My recent experience with an investment adviser reminded me to not only look at the rule itself but also to...
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My recent work with a small investment adviser prompted me to look at what would be some areas that an RIA should look out for. Of course, the list can be extensive and can vary...
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Are you managing a project, be it in compliance, risk, technology or even construction?  It can be overwhelming and challenging to manage the budget given all the information required.  As the project manager, you are...
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This is a recent conversation we had over what broker-dealers can use to help them comply with their annual supervisory compliance requirements. As you know, FINRA 3130 is the annual certification from the CEO certifying...
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What do you envision the process will be in creating the risk assessment tool and who would typically be involved in its development? We will utilize our risk assessment models as a baseline to develop...
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Allia Consulting Financial Services Risk Compliance
Recently, we took a look at FINRA’s May 2020 disciplinary actions and found that there were 3 cases relating to violations of FINRA 5210. Of the 3 firms, fines were from $30,000 to $150,000. The rule...
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In March, 2020, FINRA fined $45,000 and censured a retail broker for lack of procedures to identify red-flags related to low-priced securities trading. Similarly, disciplinary actions were brought against 2 introducing brokers in 2018 where...
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