Posts by Essential Edge Compliance Outsourcing Services, LLC

If Your E&O Insurance Doesn’t Cover Crypto Investing Blow-Ups, Kiss Your Business Good-Bye in the Next Black Swan Event “Go to hell, you old dinosore [sic].  Check out REAL crypto experts on TikTok.” This is just one of a large number of surprisingly hostile messages I received from my last column for WSR, “The Crypto…

Efforts to Wrap Professional Asset Management Structures Around Crypto Currencies Disguise Enormous Risks to Financial Advisors If a client told you to put all of his or her long-term retirement assets into magic beans, at a moment when everybody has a “look what I grabbed from the giant’s castle†story – Would you? Crypto assets…

Venture capital-backed employee compliance software and solutions provider, ComplySci, reported a rise in concerns among compliance professionals across the financial services sector when it comes to cryptocurrency trading activities by their employees. The New York City-based regtech firm – which is backed by private equity firm K1 Investment Management as well as venture capital firms Edison Partners and Vista Equity Partners â€“…

Welcome to the fifth edition of Nightmare on Compliance Street. This is where I leverage my more than 30 years of experience in compliance and supervision in the financial services industry to address some of the scariest and challenging compliance questions submitted anonymously by Wealth Solutions Report readers.  I receive a large volume of queries…

Welcome to the fourth edition of Nightmare on Compliance Street, where I leverage my more than 30 years of experience in compliance supervision and expert witness testimony to address the scariest and toughest-to-answer compliance questions submitted anonymously by Wealth Solutions Report readers.  Let’s get started with this week’s questions! Question 1: Do I Need to…

Foreside Financial Grouphas acquired Hardin Compliance Consulting, the firm announced Tuesday. This marks the seventh compliance consulting firm that Foreside has bought since 2019, and its eighth acquisition overall during that period. With the purchase of Hardin, Foreside becomes one of the largest compliance consulting firms in the U.S., according to Tuesday’s announcement. Financial terms…

The annual program honoring individuals and business initiatives that help financial advisors better serve their clients will be held in person in New York City on Sept. 9. The “Wealthies,†WealthManagement.com’s annual awards programs honoring individuals, organizations, and companies that help financial advisors build better businesses and create better outcomes for their clients, is back and in person…

Can Clients Co-Sign Loans For Advisors?  And Beware of Unauthorized Crypto Investing. Since the launch of Nightmare on Compliance Street, I’ve had lots of emails from Wealth Solutions Report readers, and I’d like to say, thank you so much for submitting your questions.  We have two questions this week to go over. So let’s get…

RegTech Firm Smarsh Emphasizes Urgency for Getting Ahead of New Burdens Crypto is on a roll across the wealth management space, as Wall Street financial institutions, independent broker-dealers and RIA firms increasingly explore how to offer crypto-based financial products and strategies. Jeff Nash, CEO of BridgeMark Strategies, a national consultancy focused on the wealth management…

My name is Sander Ressler and I have over 30 years of experience handling compliance and supervision issues.  At “Nightmare on Compliance Street†we address questions submitted anonymously from our readers that are escalating their anxiety levels. The reason we call this segment “Nightmare on Compliance Street†is that many of the issues handled by…