Compliance Quiz



Are you in compliance? Your statement can help you comply.

Does your company:

Send a separate disclosure letter to the client when an address, beneficiary or investment strategy update is made to the client's account? Do you send a discosure at all?

The SEC requires a client disclosure at least every 36 months or whenever one of the covered items changes. Save postage and paper costs. Include the disclosure on your statement. SEC Rule

Does your company:

Disclose the fees deducted for mutual funds on the client's confirmations?

The SEC now requires disclosure to occur on confirmations when the value of the mutual fund holdings is disclosed. In addition, the fee disclosure must occur in close proximity to the value of the mutual fund holdings. Many back office processors are including this data now. You should update your confirmation to ensure compliance with current SEC regulations.



Close This Window