WASHINGTON -- With regulators vowing to crack down on bad actors in the advisory sector, RIAs need to get serious about compliance, a regulatory expert cautions -- adding that it falls to the senior management of the firm to set the tone.
Thomas Giachetti, the chair of the securities practice at the law firm Stark & Stark, warns RIAs to get their house in order in anticipation of a visit from the SEC. It's not a question of whether an examiner will visit a practice, but rather when, he said in a presentation at Fidelity's Inside Track conference this week.
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