Docupace Blog

SEC OKs controversial registration plan for back-office workers

SEC OKs controversial registration plan for back-office workers

This was in a recent article in Investment News by Dan Jamieson. The Securities and Exchange Commission yesterday approved a plan by the Financial Industry Regulatory Authority Inc. that will create a new operations professional license, with a qualification exam and continuing-education requirements. The new rule marks a substantial expansion of registration requirements to include back-office personnel. Registration has historically been limited to individuals working in sales or trading. Finra will be announcing an effective date for the rule within the next two to three weeks, said Finra spokeswoman Nancy Condon. From the effective date, Broker-Dealers will have 60 days to identify...

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Worry-Free Straight-Through-Processing

Worry-Free Straight-Through-Processing

While many Broker-Dealers have some form of electronic workflow process in place, it is often contained within the walls of the home or field office. Traditional workflow solutions achieve only “part-through processing,” almost inevitably resulting in delays and mistakes caused by waiting for physical signatures on documents and the laborious step-by-step approval process of paper applications that would be mailed or faxed (a security risk). Click here to read how with ePACS’ web-based system, all parties can communicate electronically no matter their location, and every step of the process is workflow-enabled to eliminate holdups and expedite new or ongoing investment....

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Docupace and Advisor Group Partnership

Docupace and Advisor Group Partnership

Advisor Group and its 3 Broker-Dealers – FSC Securities, Royal Alliance and SagePoint Financial – have all partnered with Docupace Technologies. Click here to read about how Docupace’s web-based workflow solution will be helping all of the firms’ 4,800 independent financial advisors – seamlessly tying together existing systems with new options for electronic processing and building efficiencies for advisors and the home office. Full press release Docupace and Advisor Partnership Docupace is the Single-Vendor, Straight-Through Processing Platform for All Your Back Office Needs. Docupace Technologies provides Broker-Dealers and financial advisors with easy to...

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Compliance Jobs – Fastest Growing?

Compliance Jobs – Fastest Growing?

There was an interesting article that was recently released about some of the fastest growing job opportunities in the finance industry over the next few years: Financial Examiners and Compliance Officers. The article states that the number of jobs for financial examiners is projected to grow more than 40 percent from 2008 to 2018 and should account for 38,000 new jobs. Read the article Docupace is the Single-Vendor, Straight-Through Processing Platform for All Your Back Office Needs. Docupace Technologies provides Broker-Dealers and financial advisors with easy to use business software to satisfy all your back office books and records including Rule 17a-3 and Rule 17a-4 processing needs,...

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Growth in Cloud Computing Services

Growth in Cloud Computing Services

Gartner Group just announced that worldwide cloud services revenue is forecast to reach USD 68.3 billion in 2010, a 16.6 percent increase from 2009 revenue of USD 58.6 billion. They expect that industry to be poised for strong growth through 2014, when worldwide cloud services revenue is projected to reach USD 148.8 billion. Though we at Docupace don’t necessarily have the same reach as a Gartner Group, we have definitely noticed that clients are rapidly embracing the idea of outsourcing more and more of their operational services. In following that logic, Ben Pring at Gartner said “The scale of application deployments is growing; multi-thousand-seat deals are increasingly...

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Financial Planning Annual Tech Survey

Financial Planning Annual Tech Survey

Financial Planning Magazine is running its annual technology survey right now. They hope to deliver the finding in December. Its a very worthwhile survey as it shows trends and leaders in the technology space for financial advisors. If you are interested in filling it out, the link is below. If you are interested in what the 2009 results showed, you can find it on the Financial Planning website. Financial Planning Annual Tech Survey Docupace is the Single-Vendor, Straight-Through Processing Platform for All Your Back Office Needs. Docupace Technologies provides Broker-Dealers and financial advisors with easy to use business software to satisfy all your back office books and records...

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Alleged lack of records costs A.G. Edwards $755K in VA dispute

Alleged lack of records costs A.G. Edwards $755K in VA dispute

Wells Fargo unit agrees to settle charges arising from sales of variable annuities to seniors A.G. Edwards & Sons Inc. will pay Missouri securities cops $755,000 to settle charges that the firm sold variable annuities to elderly clients without maintaining proper documentation. The firm, now part of Wells Fargo & Co., had been under investigation by the Missouri Securities Division after the regulator received a complaint from an 81-year-old investor in Blue Eye, Mo., on the liquidation of a variable annuity. Regulators then reviewed all variable annuity sales and exchanges made at A.G. Edwards between July 1, 2006 and June 30, 2007. Read entire article Docupace is the...

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Finra enforcement activity spikes

Finra enforcement activity spikes

Number of disciplinary actions increases, but total fines collected by the SRO take a dive Disciplinary actions brought by Finra grew 13% last year to 1,310, up from 1,158 in 2009, according to a study At the same time, fines fell slightly. In 2010, the Financial Industry Regulatory Authority Inc. hit firms and individuals with about $45 million in total fines, down from $50 million in 2009, according to a survey by Sutherland Asbill & Brennan LLP, a law firm that tracks Finra cases. The level of monetary penalties is running well below 2005, 2006 and 2007, when fines were $184 million, $111 million and $77 million, respectively, according to the study. Read the entire article:...

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