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When SEC/FINRA Come Knocking, Don’t Blame Your Technology

August 31, 2021


Financial Advisor Magazine tells readers that registered investment advisors and broker-dealers have spent untold millions on technology to meet new investment advice regulations. Yet, some firms are still running afoul of regulators.

Mark Alcaide, Foreside’s Senior Managing Director of Consulting, shares that the problem almost always comes down to lack of implementation.

“When a regulator comes into a company that relies heavily on technology, we see it over and over in regulators’ schedule of requested information,” Alcaide said. “They go straight to the gap between what a firm promises they’ll do and what they deliver.”

Learn more about why regulatory fatigue, severe under-resourcing of compliance staff, and firms’ own soaring success have also hindered the time it takes to implement good regulation in Financial Advisor Magazine here.