Oyster Stew - A Broth of Financial Services Commentary and Insights
Our financial services industry insights come from on-the-ground experience, successfully navigating complex challenges and business. Our insights are your opportunities.
AML in Action: Practical Strategies for Surveillance, Training, and SAR Reporting
In this episode of the Oyster Stew podcast, Oyster Consulting’s Ed Wegener and Bryan Jacobsen break down how firms can implement risk-based monitoring, tailor training for frontline roles, conduct effective investigations, and ensure your firm’s Suspicious Activity Report (SAR) filings are what regulators require.
Key Takeaways
What regulators expect from your AML compliance programRisk-based surveillance: Going beyond cookie-cutter monitoringHow to tailor red flag training by employee roleInvestigating suspicious activity: When to file a SAR, how to do it rightLeveraging third-party vendors for transaction surveillance and case managementCommon mistakes firms make—and how to avoid them...
CAT Compliance - Build the Surveillance Framework Regulators Demand
Your CAT reporting compliance requires more than just data submission; you need comprehensive surveillance programs that include monitoring both exceptions and successful reports to maintain regulatory compliance.
Listen to this week’s Oyster Stew podcast as Oyster experts Ralph Magee and Steve Kuhs share their expertise in CAT and CAIS reporting, providing you with the information you need to build an effective CAT reporting compliance program.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to ou...
Are You Unintentionally Triggering Custody? Hidden Risks in Everyday Advisory Practices
In this episode of the Oyster Stew podcast, regulatory compliance experts Ed Wegener, Candy Palugi, and Nolan Hughes examine the nuanced world of custody regulations and outline concrete steps firms should take when custody is discovered, including ADV amendments, engaging independent accountants for verification audits, and implementing enhanced supervision procedures.
For compliance professionals and advisory firm leaders, this conversation provides essential guidance on balancing client service with regulatory requirements. Listen now to gain valuable insights that will help protect your firm from unintentional custody violations while maintaining exceptional client service. Review your operational procedures today to ensure...
Inside the Latest CAT and CAIS Reporting Issues
Join Oyster experts as they provide real-world insight into the shifting CAT and CAIS landscape, including:
The current regulatory focus on removing PII information from CAIS reportingImplementation uncertainty - where FINRA guidance falls shortMember firms grappling with the scope of PII removal at account and customer levelsBlue sheets and CAIS - redundant reporting and integration challengesCAT reporting's critical role in market surveillance during volatile trading periodsHow the multi-year phased implementation approach provides a potential model for future regulations
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on...
3 Reasons You Must Review Your Clearing Contract
Your clearing agreement is the backbone of your brokerage firm’s operations, yet many firms fail to review it until it’s too late. In this week’s episode, Oyster’s David Williams and Peter Sheehan break down why your clearing contract should be a top priority and what you should consider when evaluating your agreements.
You’ll learn:
· Why your clearing agreement should be a priority
· Key warning signs for when to review your contract
· How pricing models have evolved
· Some hidden costs and contract pitfalls AND
· Considerations fo...
Technology Investments That Work: Aligning Strategy, Data, and ROI
In this episode of the Oyster Stew Podcast, Dan Garrett and Jay Donlin break down the critical—but often overlooked—factors that determine whether your technology investments will actually move the needle for your firm. From setting business-driven goals to avoiding the allure of flashy tools with limited value, they walk through practical insights that can save you time, money, and internal frustration.
What You’ll Learn
· Start with Strategy, Not Software
· Beware the Shiny Object
· Don’t Underestimate Adoption and Training
· Data Strategy
· Measure Before and After: ROI Isn’t Optional
·...
Time to Act: Why RIAs Must Prepare for AML Compliance Now
Understanding and implementing the new FINCEN AML (anti-money laundering) requirements for registered investment advisors (RIAs) is crucial to achieving compliance by the 2026 deadline. Preparing for AML compliance as an RIA will take time. Firms must develop and implement risk-based AML programs, appoint compliance officers, establish monitoring systems, and ensure staff receive proper training—steps that require careful planning and execution well ahead of the 2026 deadline.
Join Ed Wegner and Bryan Jacobson as they discuss
· 8 critical elements of compliance and their implications
· Building a strong AML program: steps for RIAs
· The importance of a risk-based ap...
Inside FINRA Enforcement: What Firms Need To Know
Unlock the secrets of navigating FINRA's complex enforcement landscape with former enforcement officials Lisa Colon and Chris Kelly, who now provide defense counsel to broker-dealers. Drawing on their rich experience at FINRA and current roles at CSG Law, Lisa and Chris share their perspectives on the current state of FINRA enforcement in the securities industry. We discuss the statistics of previous enforcement actions, the importance of strategic cooperation, and the reality of FINRA credit for cooperation.
Key topics include:
2024 enforcement action analysisImportance of proactive strategies in handling investigationsDistinction between mandatory self-reporting and extraordinary cooperationNavigating the centralized pr...Growth Strategies: The Power of Outsourcing
In this episode of the Oyster Stew Podcast, our panel of financial services experts breaks down the key considerations for outsourcing critical functions, such as compliance, finance, and vendor selection. Whether you’re launching a new firm, looking to scale efficiently, or navigating complex regulatory landscapes, outsourcing services can provide cost-effective expertise and operational flexibility.
Our expert panel—Sarah Sutton, Candy Palugi, Evan Rosser, Jay Donlin, Fred Wagstaff, and Jeff Wilk—shares real-world insights on when outsourcing makes sense, how to assess your firm’s needs, and the long-term benefits of working with experienced operations and compliance consulta...
Regulatory Exams: Pave the Way For Positive Regulator Relations
Building and maintaining strong relationships with regulators is not just beneficial, but essential. Join us for Part 2 as former regulators share their experience and insights into how to establish open, candid communication, and engage regulators on both professional and personal levels. Get tips on setting the right tone from leadership and fostering a culture of compliance. Stay on the right side of compliance while cultivating positive interactions with financial regulatory bodies.
In this episode we’ll build on Part 1 and cover:
Dealing with Regulatory Violations: Identifying violations and deciding on the next steps.The Exam Process and...Navigating Regulatory Exams: Insights from Former Regulators
Ever wondered how to turn a regulatory exam into a strategic advantage? Join our discussion (Part 1 of 2) with former regulators Patrick Dennis, Evan Rosser, Ed Wegener, Jeffrey Hiller and Bill Reilly as they share their insights into what regulators consider when they come in to do exams, the art of managing document request lists, and how to enhance your firm’s credibility.
In this episode we'll explore:
The shift in the role of risk analysts and how their insights are reshaping the scope and frequency of firm evaluationsThe various types of exams, from routine to for-cause an...Compliance Mistakes Every CCO Should Avoid: Practical Tips for Success - Part 2
Unlock the secrets of crafting compliance manuals that truly work for your firm with insights from our regulatory compliance experts. Discover why using generic templates might be a recipe for disaster, and how aligning your written supervisory procedures with actual business practices can safeguard your firm's accountability and regulatory standing. In this episode you'll uncover:
Reg BI Disclosures Regulatory filing errors that can cost you
Oyster Cons...
Common Marketing and Communications Compliance Mistakes
Listen to Part 1 of our two-part series on Common Compliance Mistakes as Oyster’s regulatory compliance experts uncover how to spot, prevent, and correct the following issues:
Communication Missteps: Closing the Gaps
discover where CCOs often fall short in capturing off-channel communications such as texts and chat room interactions gain practical measures every firm should adoptMarketing Compliance Challenges
Marketing presents a minefield of compliance challenges. In this episode we will:
Expert Strategies for Managing Vendor Risk and Data Protection
Our latest episode of Oyster Stew features industry veterans Dan Garrett, Jeff Wilk and Tim Buckler, who share their insights into the complexities of vendor risk and data protection. Discover how to protect client data amid the vulnerabilities brought by new vendors and implementing a robust strategy to ensure operational continuity and resilience.
In this informative podcast, you’ll learn:
the importance of using structured processes like detailed scorecards and questionnaires to align with security, compliance, and operational standards like GDPR and CCPAthe critical role of data access controls, encryption standards and maintaining ownership of your data...Hidden Costs, Smart Choices: Mastering Your Tech Stack
Unlock the secrets of making informed technology decisions with Oyster Consulting’s technology experts Jeff Wilk and Dan Garrett, as they share their expertise in navigating the build vs. buy decision. Discover how understanding the hidden costs of software development can make or break your strategic planning, especially if your firm lacks technical expertise. Jeff and Dan provide insights into:
Cost ConsiderationsTeam Dynamics and CultureIntegration and Data StrategyCompliance and SecurityManaging Vendor Relationships
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our in...
Growth and Compliance: Navigating FINRA Registration Requirements
Ever wondered how significant growth could impact your broker-dealer registration requirements? Join us as we unravel the complexities with industry experts Ed Wegner and Lisa Robinson. Lisa leverages her extensive experience as Senior Director of the FINRA Membership Application Program (MAP) group to provide you with essential tips on registering your firm with FINRA and completing a Continuing Member Application. From identifying key triggers like acquisitions and substantial asset transfers to understanding the importance of resolving outstanding customer claims, this episode is packed with invaluable insights to help you make informed decisions during your firm's expansion journey.
Scaling Smart: Aligning Growth with Infrastructure
Adapting your infrastructure while managing your firm's growth can present unique challenges. Join Oyster’s Ed Wegener, Brent Nicks and Pete McAteer as they share their insights for scaling and sustaining growth.
In this podcast you will:
· Gain firsthand insights into the complexities of rapid organic and inorganic expansion
· Examine the significance of understanding your firm's core strengths and growth goals, alongside the importance of a detailed due diligence checklist
· Learn the importance of setting realistic expectations and managing the pace of acquisitions for seamless integration
· Discover the value of a cohesive platform and th...
From Legacy Systems to Leading Edge: A conversation with Envestnet's Andrew Stavaridis
Join us as Oyster’s Jeff Wilk and Envestnet Chief Relationship Officer and Group Head of Wealth Solutions and Asset Management Distribution, Andrew Stavaridis, bring you an insider’s perspective on the industry's technology evolution, from outdated point solutions to cutting-edge platforms that are accessible, modular, and perfectly tailored for mid-sized to smaller firms.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
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Insider's Guide to Selecting The Right Custodian For Your RIA
In this episode of the Oyster Stew podcast, our experts, Dan Garrett and Jay Donlin, take you on a deep dive into the world of custodians. We'll explore everything from full-service solutions that handle your middle office needs to niche players specializing in FinTech and money management. Whether you're a breakaway advisor, a FinTech firm, or an established registered investment advisor (RIA) looking to make a change, this podcast will equip you with the insights you need to make an informed decision.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one r...
Starting Your RIA - Registration and Compliance Requirements
Embarking on the path to becoming an RIA is an exhilarating time filled with opportunities and challenges, and our experts are here to guide you every step of the way. In this episode, we'll delve into essential aspects of the registration process and compliance requirements. By addressing these critical components, you'll set a solid foundation for your firm's success.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
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Starting Your RIA - What You Need To Know Before You Go
When starting a Registered Investment Advisor there are fundamental aspects you must understand before taking this step. Oyster's experts Brent Nicks, Nolan Hughes and Dan Garrett provide an overview into things you need to think through and put in place to build a solid foundation for your firm’s success:
Establishing Key PositionsNavigating PartnershipsRisk Management and ComplianceOperations Must-HavesChoosing a CustodianStrategic Growth Planning
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Do...
Industry Update: T+1 and CAT CAIS Reporting
May 2024 saw the implementation of two major industry projects: T+1 and go-live compliance for CAT/CAIS reporting. Experts Jeff Gearhart and Ralph Magee provide the latest updates on T+1 from industry meetings and key participants, including
Affirmation and fail rates, margin balances, securities lending and his outlook for the future around T+1 Our experts also discuss what industry members and clients are seeing post implementation, what they can expect to see in the future, insights into issues that firms are currently struggling with, as well as the need for industry members to consider the data they are providing FINRA...
Pros and Cons of Platform Ownership for Investment Advisors and Broker Dealers
If you are a start-up or an established wealth management firm, determining whether you want to manage your own operating platform or outsource it is an important strategic decision. There are many factors to consider, from cost and available resources to integration and client experience.
In today’s podcast Oyster experts Dan Garrett and Jay Donlin share their expertise on what goes into establishing and managing your own platform, common pitfalls and using out-of-the-box vendors vs customized builds.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on...
How To Launch Your Alternative Trading System (ATS) - Insights and Challenges
In today’s podcast Oyster experts share their insights into what to think about as you prepare to register an alternative trading system, or ATS. Jeff Gearhart and Lisa Robinson will discuss challenges and misconceptions, and then Lisa will take us through some highlights of the FINRA application process. We finish up with other things to consider once your ATS is up and running.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
...
Modernizing FINRA Rule 4210: Impacts to Market Makers and the Role of Automation
After nearly a decade of delays, FINRA is finally enacting amendments to Rule 4210. The new Covered Agency Transaction requirements became effective May 22nd, 2024. Oyster’s Jeff Gearhart, Jose Fernandez and Stephen Mellert, co-founder of Matrix Application’s margin calculator, share their insights into what the new rule means for market makers, the capital implications, and the importance of automation.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
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FINRA Focus Areas: Communications, Reg BI and Complex Products
In today’s our experts discuss an area where FINRA spends a lot of resources – Communications and Sales. We’ll look at challenges our clients are facing and best practices when it comes to:
· Communications with the Public and Advertising
· Reg BI and its focus on the Care Obligation
· Complex Products, from variable annuities to private placements
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Does your firm nee...
Broker-Dealer Technology: Tomorrow's Platform Transformation Today
Oyster experts Pete Bowman and Dan Garrett share their insights into what the broker-dealer community is facing when it comes to evolving platforms, changing business models, AI technology, firm acquisitions and the platform consolidations that happen afterward.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Does your firm need help now? Contact us today!
AI in Wealth Management - FINRA, Supervisory Obligations and Protecting Clients
Oyster Consulting experts Casey Dougherty, Dan Garrett and Bryan Jacobsen discuss FINRA’s exploration of AI, supervisory obligations with regard to outsourcing AI technology to firms, and best practices for maintaining compliance and protecting clients.
Learn more in our previous podcast, part 1 of the series, as our experts share their insights on AI's impacts on Regulation Best Interest and recordkeeping, with a special focus on how the SEC’s actions around AI will affect compliance teams in the wealth management industry.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof...
AI in Wealth Management - SEC Actions, Best Interest Rules and Recordkeeping
The wealth management industry is shifting towards more data-driven, personalized and secure services. In this week’s Oyster Stew podcast, Oyster experts discuss the industry’s relationship with AI today, the role of Artificial Intelligence in Best Interest rules and recordkeeping, and the impacts of the SEC’s AI initiative. Get Oyster's insights into what SEC sweeps and investigations mean for Compliance teams, and what firms should be doing to mitigate the risks that come with adopting AI technology.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us o...
Cyber Risk Management: Insights for CCOs
In today's episode of the Oyster Stew podcast, Oyster experts Len Derus and Tim Buckler delve into a crucial topic: Regulatory expectations and observations regarding cyber risk management. Learn more about the responsibilities of Chief Compliance Officers (CCOs) and what the regulatory focus on cybersecurity means for compliance programs. Join us as we examine the key insights from FINRA's annual report, new SEC rules, and the implications for wealth management firms.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry ins...
SEC Rule 15b9-1 Expands FINRA Oversight: Insights into FINRA Membership Requirements
Our experts and special guest Susan Light, Partner and Co-chair of Broker Dealer Regulation at Katten Muchin Rosenman LLP, explore the new SEC rules expanding the number of firms required to register with a self-regulatory organization. They share their experience and insights into the rule changes, including what it means for the firms who must comply, the FINRA registration application process, challenges non-broker dealer entities may experience adapting to FINRA membership, and how FINRA has historically handled rule changes involving new membership.
Oyster Consulting has the expertise, experience and licensed professionals you need, all...
FINRA AML Expectations - The 2024 Annual Regulatory Oversight Report
Oyster's seasoned professionals will share their experience, providing invaluable insights into FINRA's AML priorities. From customer due diligence to transaction monitoring, they'll guide you through the key considerations identified by FINRA, empowering you to elevate your AML framework.
They also explore the findings unearthed in FINRA's examinations. Our experts will discuss prevalent issues discovered, offering tangible solutions to address them head-on. Whether it's enhancing customer risk assessments or optimizing Suspicious Activity Reporting (SAR) processes, you'll gain actionable strategies to bolster your AML program. Our industry practitioners will draw from their own experiences, providing real-world examples of how th...
Drivers of Change - The Clearing & Custodian Transformation
In this week's Oyster Stew Podcast, our Strategic Planning and Execution experts, Pete Bowman, Pete McAteer, Jay Donlin, Jeff Wilk, and Jeff Gearhart share their perspectives on the four critical areas that are transforming the clearing and custodian industry:
Compliance Across The Industry - Lookback to 2023
A lot has happened in the last year when it comes to compliance in the financial services industry. Today our consultants share their perspectives and what we heard from our clients about the following areas of regulatory focus, including DOL Retrospective Reviews, outside business activity monitoring, private fund rules, direct business, off channel communications, cybersecurity, and FINRA's branch inspection pilot program.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Does yo...
How to Successfully Manage Regulatory Remediation
When regulatory remediation is required and your firm is working under consent orders, it is important for financial services firms to have a plan to efficiently execute the process to avoid excess disruption, manage risk and reputational damage, and to navigate the firm's continuing relationship with the regulators. In today’s podcast Oyster’s Tim Buckler and Paul Saroj, SVP of Regulatory Enforcement remediation at Simpluris, talk about the remediation process, from data crunching to mailing the checks.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on Linke...
Dispute Resolution - Managing Customer Complaints & Regulatory Inquiries
A necessary part of any financial services firm’s business is handling disputes that arise. Whether it's a complaint from a customer, litigation, regulatory inquiries and investigations, firms need to have a well-thought-out process for handling these disputes. In today’s podcast, Oyster Consulting experts Ed Wegener, Evan Rosser and John Ivan discuss
· how to approach the dispute review
· how to work with and manage interactions with key stakeholders
· managing the information gathering process
· factors to consider when determining whether a complaint has merit
· keys to an effective investigation
Oyster Consulting ha...
SEC Exam Priorities - Broker-Dealer Trade Practices
Each year the SEC publishes its exam priorities for the coming year. Join us for today’s podcast as Oyster Consulting’s Capital Markets experts Jeff Gearhart, Frank Childress and Jose Fernandez share their thoughts on the priorities related to broker-dealer trading practices including:
· Rule 15c2-11
· Reg SHO
· Reg ATS and filing requirements
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Does your firm n...
Successful FINRA CAT and CAIS Reporting - Part 2
Join us for Part 2 of our discussion with Mark Hendrickson from D.A. Davidson Companies about where CAT and CAIS reporting stands today, the pain points firms are facing and what they should be doing to manage the current and upcoming reporting requirements.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Does your firm need help now? Contact us today!
Finding Success with FINRA CAT / CAIS Reporting - Part 1
FINRA’s Consolidated Audit Trail, or CAT, continues to evolve from account-centric trade reporting requirements to now including customer-centric CAIS reporting.
Today's podcast guest is Mark Hendrickson, Head of Trading and Streetside Operations at DA Davidson Companies. Mark is also an Industry Advisory Committee Member representing clearing firms on the US Advisory Operating Committee of the Consolidated Audit Trail. Join us as Oyster CEO Buddy Doyle and Consultants Jeffrey Gearhart and Ralph Magee chat with Mark about
· the current state of CAT/CAIS reporting,
· industry concerns,
· what we see coming in 2024 and beyond, and
Broker-Dealer Growth - Is Affiliation the Right Option?
Many introducing broker-dealers are moving to affiliate with another broker-dealer. Join Oyster Managing Directors Pete Bowman and Dave Williams as they discuss what affiliation means for broker-dealers, what is driving firms to the strategy, and what part the advisory side of the business plays when firms consider affiliation.
Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.
Does your firm need help now? Contact us today!
