Oyster Stew - A Broth of Financial Services Commentary and Insights

Our experts and special guest Susan Light,  Partner and Co-chair of Broker Dealer Regulation at Katten Muchin Rosenman LLP, explore the new SEC rules expanding the number of firms required to register with a self-regulatory organization.  They share their experience and insights into the rule changes, including what it means for the firms who must comply, the FINRA registration application process, challenges non-broker dealer entities may experience adapting to FINRA membership, and how FINRA has historically handled rule changes involving new membership. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

 Oyster's seasoned professionals will share their experience, providing invaluable insights into FINRA's AML priorities. From customer due diligence to transaction monitoring, they'll guide you through the key considerations identified by FINRA, empowering you to elevate your AML framework. 

They also explore the findings unearthed in FINRA's examinations. Our experts will discuss prevalent issues discovered, offering tangible solutions to address them head-on. Whether it's enhancing customer risk assessments or optimizing Suspicious Activity Reporting (SAR) processes, you'll gain actionable strategies to bolster your AML program. Our industry practitioners will draw from their own experiences, providing real-world examples of how these practices can transform compliance efforts. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

 In this week's Oyster Stew Podcast, our Strategic Planning and Execution experts, Pete Bowman, Pete McAteer, Jay Donlin, Jeff Wilk, and Jeff Gearhart share their perspectives on the four critical areas that are transforming the clearing and custodian industry: 

• Technology advances and accessibility are reshaping how firms look at clearing and custodian services. 
• Economics, from interest rates to market fluctuations, emerge as a significant player. 
• Client Engagement: Firms must determine how best to foster meaningful, compliant and efficient connections in a digital world.
• Managing risk and compliance always requires industry firms to assess their practices and review their platforms, and vendor management practices. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

A lot has happened in the last year when it comes to compliance in the financial services industry.  Today our consultants share their perspectives and what we heard from our clients about the following areas of regulatory focus, including DOL Retrospective Reviews, outside business activity monitoring, private fund rules, direct business, off channel communications, cybersecurity, and FINRA's branch inspection pilot program. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

When regulatory remediation is required and your firm is working under consent orders, it is important for financial services firms to have a plan to efficiently execute the process to avoid excess disruption, manage risk and reputational damage, and to navigate the firm's continuing relationship with the regulators. In today’s podcast Oyster’s Tim Buckler and Paul Saroj, SVP of Regulatory Enforcement remediation at Simpluris, talk about the remediation process, from data crunching to mailing the checks. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

A necessary part of any financial services firm’s business is handling disputes that arise.  Whether it's a complaint from a customer, litigation, regulatory inquiries and investigations, firms need to have a well-thought-out process for handling these disputes.  In today’s podcast, Oyster Consulting experts Ed Wegener, Evan Rosser and John Ivan discuss 

·         how to approach the dispute review

·         how to work with and manage interactions with key stakeholders

·         managing the information gathering process 

·         factors to consider when determining whether a complaint has merit

·         keys to an effective investigation

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

Each year the SEC publishes its exam priorities for the coming year. Join us for today’s podcast as Oyster Consulting’s Capital Markets experts Jeff Gearhart, Frank Childress and Jose Fernandez share their thoughts on the priorities related to broker-dealer trading practices including:

·       Rule 15c2-11 

·       Reg SHO

·       Reg ATS and filing requirements

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

Join us for Part 2 of our discussion with Mark Hendrickson from D.A. Davidson Companies about where CAT and CAIS reporting stands today, the pain points firms are facing and what they should be doing to manage the current and upcoming reporting requirements. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

FINRA’s Consolidated Audit Trail, or CAT, continues to evolve from account-centric trade reporting requirements to now including customer-centric CAIS reporting. 

Today's podcast guest is Mark Hendrickson, Head of Trading and Streetside Operations at DA Davidson Companies. Mark is also an Industry Advisory Committee Member representing clearing firms on the US Advisory Operating Committee of the Consolidated Audit Trail.  Join us as Oyster CEO Buddy Doyle and Consultants Jeffrey Gearhart and Ralph Magee chat with Mark about 

·       the current state of CAT/CAIS reporting,

·       industry concerns, 

·       what we see coming in 2024 and beyond, and

·       how DA Davidson has been proactive and successful in preparing for and executing its CAT requirements. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

 Many introducing broker-dealers are moving to affiliate with another broker-dealer.  Join Oyster Managing Directors Pete Bowman and Dave Williams as they discuss what affiliation means for broker-dealers, what is driving firms to the strategy, and what part the advisory side of the business plays when firms consider affiliation. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

Oyster’s Capital Markets experts were recently featured on the Bond Dealer Association’s podcast, “Bonding Time,” discussing issues affecting the U.S. fixed income markets.

 The podcast, hosted by Michael Decker of BDA, covers:

• Fair Pricing for  Fixed Income products and compliance with Rule 2121, and MSRB Rule G30 
• Best execution and the SEC’s new proposal
• The latest on FINRA and MSRB trade reporting, including the proposals to shorten the trade reporting time to one minute
• SEC Rule 15c2-12 disclosure requirements

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

Regulatory exams and sweeps are enough to keep any CCO up at night. In today’s podcast, Ed Wegener and Len Derus, both former FINRA regulators, walk through what helps inform regulator decisions about what to look for in an exam, how regulators identify areas for a sweep, and how you can use sweep letters to your advantage.  

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

 In order to become a registered broker-dealer, you must be registered with FINRA. Applying for this membership is an extensive process with multiple steps. We receive many, many questions about submitting a New Member Application (NMA) with FINRA and when a firm needs to submit a Continuing Membership Application (CMA). In this episode of the Oyster Stew podcast, Oyster’s Ed Wegener and Lisa Robinson shares their thoughts on fast-track application, when a CMA is necessary, and what to think about before submitting. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

CEOs of broker-dealers are faced with the continuous pressure to innovate and increase profits. If these aren't happening, there is also pressure to sell.  Successful broker dealers know that understanding how to navigate the demand for innovation and growth, or for changing the business model entirely is key for long-term prosperity. 

In today’s podcast, Pete Bowman, Managing Director of Oyster’s Strategic Planning and Execution team and Dave Williams, Head of Business Development look at the increasing pressures facing broker dealers in today's markets and offer insight into how best to handle them, giving you a better chance of achieving success as well as satisfying clients both old and new.

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

Platform technology, regulatory pressure, mergers and acquisitions are all driving financial services firms to re-evaluate their business models.  In today’s podcast, Pete Bowman, Managing Director of Oyster’s Strategic Planning and Execution team and Dave Williams, Head of Business Development share their insights on how some firms are positioning themselves for the future. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

In December 2022 the SEC offered 4 market structure proposals. The proposal to modernize Rule 605 was met with broad-based industry support.  Oyster Consultant Frank Childress and guest Ted Karn, founder of The Karn Group, walk through what modernizing Rule 605 will mean for the industry, and what firms should be doing to prepare. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

The investing population has grown and so has their wealth. This is good for their finances, but also creates more opportunities for fraud and abuse.  Bob Mooney, General Counsel of Oyster Consulting, and Ron Long, Principal of Long Life Consulting, walk through the issues around protecting elder and vulnerable investors against fraud and abuse, and what financial services firms are doing to combat it. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

In today’s podcast, DOL PTE 2020-02 experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath will be discussing the current state of the industry’s implementation, how different firms are approaching the requirements, self-correction, and what they see as the DOL’s approach. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

In February, a US District Court judge challenged the DOL’s FAQs around the fiduciary investment advice definition to rollover recommendations. In today's episode, Part 2 of 2 discussing DOL PTE 2020-02, experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath join Oyster's Ed Wegener  will be discussing this case and other legal challenges, and the impacts these will have, if any. 

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

In today’s episode of Oyster Stew, our seasoned outsourced CCOs walk you through things to consider when deciding to outsource your CCO role, from the expertise and expanded resources an outsourced CCO brings, to common mistakes inexperienced CCOs make and concerns firms may have around outsourcing such an important role.    

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!