- Outside Business Activities
- June 30, 2017 | Authors: Clifford E. Kirsch; Brian L. Rubin
- Law Firms: Eversheds Sutherland (US) LLP - Washington Office; Eversheds Sutherland (US) LLP - New York Office
A White Paper from the Financial Services Institute
The Financial Services Institute (FSI) and members of its Compliance and Investment Advisory Services Councils, in conjunction with Eversheds Sutherland (US) LLP Partners Clifford Kirsch and Brian Rubin, have released a white paper on outside business activities (OBAs), which provides important benchmarking for independent financial services firms as well as helpful information on ways firms seek to identify undisclosed OBAs.
Among other things, the white paper outlines many of the extensive approval and monitoring efforts independent financial services firms use to comply with FINRA and state regulatory requirements related to OBAs.