McLean, VA, February 13, 2017 —NICSA is pleased to announce the release of a new white paper to its member firms: Broker/Custodian Resignations, An Assessment of Firm Preparedness and Current Practices. The Department of Labor’s fiduciary rule—whether delayed, altered, or implemented in April 2017—has thrust an increased complexity onto client servicing and puts critical process development squarely at the forefront of 2017 business planning for the financial services industry.
A recent survey, developed by senior members of the Association’s Risk and Compliance and Transfer Agency Committees, was distributed among NICSA member firms to gauge current industry preparedness for a potential surge in dealer/custodian resignations and to open a dialogue about procedural development. The results of the survey informed this white paper and are presented with the intention of illuminating the issues, highlighting the implications, and helping those affected to make better-informed decisions using the perspectives of their industry peers.
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