Under Frank’s leadership, Fairview has grown from a two-person company to a mid-sized, full-service firm with five distinct business lines that provide adviser compliance, private fund administration, performance reporting and cybersecurity compliance solutions with more than 120 employees. Frank also oversees FilePoint, a regulatory tech company that provides full-service regulatory disclosure solutions to clients in the financial industry. Frank has worked in the financial services industry since 1995.
On April 23, 2024, the White House announced that the Department of Labor (“DOL”) has finalized its Retirement Security Rule, also known as the “Fiduciary Rule.” The new rule extends the current definition of “investment advice fiduciary” under ERISA to include advisers when they “give investment advice for a fee to retirement plan participants, individual retirement account owners and others.” The rule and related exemptions will be effective on September 23, 2024, with a phase-in period for many of the exemptions and reporting requirements of one year until September of 2025.
Read MoreOn April 17th, 2024, the Division of Examinations (“EXAMS”) published a risk alert to inform investment advisers, investors, and other market participants about the examiner’s observations on the Marketing Rule. This risk alert highlights the Division’s focus on advisers’ compliance with the marketing rule and their completion of the marketing rule items contained in Form ADV as well as Advisers Act Rule 206(4)-7 (the “Compliance Rule”), Advisers Act Rule 204-2 (the “Books and Records Rule), and the Marketing Rule’s “General Prohibitions”.
Read MoreFINRA announced that the 2024 FINRA Entitlement Certification period begins today and must be completed on or before June 17, 2024.
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