Compliance March 19, 2014

SEC Sets 2014 Broker/Dealer Outreach Schedule

The Securities and Exchange Commission (SEC) released the schedule for this year’s Regional Compliance Outreach Program for financial and compliance professionals working with broker/dealer firms.
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The outreach program is designed for risk, audit, legal and compliance professionals employed by broker/dealers, the SEC says. Its focus is to promote strong compliance practices for the protection of investors. The SEC’s Office of Compliance Inspections and Examinations, in coordination with the SEC’s Division of Trading and Markets, will partner with the Financial Industry Regulatory Authority (FINRA) to sponsor the program.

In 2014, the groups are bringing the compliance program to Denver, Los Angeles, Chicago, Miami, Philadelphia and New York. Each event addresses current issues in compliance and regulation and provides broker/dealer professionals the opportunity to ask questions and interact with staff from national and regional SEC and FINRA offices.

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There is no cost to attend any program. Registration is limited and open to all risk, audit, legal and compliance professionals employed by broker-dealers on a first-come, first-served basis.

Here’s a rundown of the schedule provided by the SEC:

  • The Denver event is set for April 30. Registration is here.
  • The Los Angeles event is also set for April 30. Registration is here.
  • The Chicago event takes place June 4. Registration is here.
  • The Miami event also takes place June 4. Registration is here.
  • The Philadelphia is set for June 16. Registration is here.
  • The New York event falls on June 30. Registration is full, but those interested can visit the FINRA website to sign onto the waiting list.
Products March 19, 2014

America’s Best 401k Adds Online Advice

America’s Best 401k, a retirement services provider specializing in the small and mid-sized market segments, engaged investment advice provider Jemstep to bring online advice solutions to plan clients.
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The partnership will allow America’s Best 401k plan participants to use Jemstep’s online investing guidance and asset-allocation analysis to identify funds and investment strategies that fit their personal financial situation.

“In-plan retirement investing advice is in high demand,” says Tom Zgainer, CEO of America’s Best 401k. “The high caliber of the advice Jemstep provides, along with the ability to tightly integrate with our plan, creates a perfect complement to our 401k plan offering.”

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Simon Roy, president of Jemstep, says the growing demand for online advice embedded within 401(k) plan offerings is especially strong in the small and mid-sized plan market, as many providers in the space don’t yet offer such service.

The firms point to recent research by consulting firm Aon Hewitt, which shows that employees who use employer-provided online investment advice see, on average, an increase in returns of more than 2% per year compared with those lacking access to online advice.

“For most participants, deciding which funds to choose and how to allocate them is complicated, and we think that everyone deserves personalized investment advice regardless of where their accounts are held or the size of their savings,” Roy says. “Working with America’s Best 401k, we are delivering expert, unbiased advice, to create a cost effective online solution to help more people.”

Plan participants will receive Jemstep’s online guidance and support within their existing plan arrangement. More information is available at www.jemstep.com.

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