Delta Data is pleased to announce that David Riley, Vice President, Client Success Management, has been chosen to serve as a member on NICSA’s Technology and Innovation Committee. He joins the 19 other existing committee members who were appointed by the Committee Chairpersons in consultation with the NICSA President and nomination by a current Board or Committee member. Read more
— STAY AHEAD OF THE CHANGE —
Cutting Through the Noise
DOL Fiduciary Rule and Impact on Advisors & Product Selection
On-demand webinar — 35 minutes including Q&A
The DOL is requiring Brokers to act in the best interest of the client. What is the most effective and efficient way to do this with product selection?
How do you devise controls to manage the universe of securities that advisors choose from?
What are the product attributes you want your financial advisors to focus on?
In this webinar, we discuss how to leverage technology to satisfy the Advisor’s legal obligations and learn to:
Delta Data launches Distribution Oversight Solution for Asset Managers to support Increased Fund Board and SEC requirements
Columbus, GA, July 24, 2015: SEC investigations into mutual fund management have made the need for distribution oversight a business critical mission; Delta Data has just released a product to manage this issue. Delta Data, partnering with Read more
SEC Cranks Up Probe Into Fund Firms’ Fees
Inquiry centers on whether money managers are properly disclosing additional costs to investors
By Kirsten Grind
July 16, 2015 6:54 p.m. ET
U.S. securities regulators are examining whether mutual-fund managers are dipping more deeply than allowed into their investors’ money to compensate the brokerages that distribute their products, according to people familiar with the matter.
OppenheimerFunds, Franklin Templeton and J.P. Morgan Chase & Co. are among more than a dozen fund firms that have been reviewed by the Securities and Exchange Commission, which began a broad sweep of how companies sell their products about two years ago, these people said. In recent weeks the SEC’s examination unit referred some of these firms to its enforcement division, these people said. It isn’t known if the SEC will take action against any money managers. Read more
There are two issues the broker dealers are faced with that have caused these fines and rebates to customers as outlined in the article below. Most of the fines/rebates are around B/Ds selling A shares to retirement plans and charitable accounts in which they stated in their prospectus that they would waive those fees. Read more