Oyster Stew - A Broth of Financial Services Commentary and Insights

While the core principles of Reg BI and investment advisor fiduciary duty remain consistent, regulatory expectations continue to evolve through examinations, enforcement actions, and formal guidance.

In Part 1 of this conversation, our experts explore the foundational similarities and differences between Reg BI and fiduciary duty, unpack how regulators are sharpening their focus on documentation, conflicts of interest, and the firm-...

Dive deep into the crucial foundation every organization should have in place before successfully integrating AI into its operations. In Part 4 of our special AI Series with Carolyn Welshhans of Morgan Lewis, our expert panel explores: 

·       Key Strategies for Building Effective AI Governance Frameworks

·       AI Policies to Your Firm’s Risk Profile and Systems

·       Overcoming Legacy Technology Challenges in AI Adoption

·       ...

Powerful AI tools are rapidly transforming financial services, but beneath the promise of efficiency lurks significant risk. For firms eager to harness AI’s power while avoiding costly missteps, strategic planning and sound governance are non-negotiable. In Part 3 of our special Oyster Stew podcast series with Morgan Lewis, our panel of experts uncovers the practical realities facing firms implementing artificial intelligence solut...

In this second installment of our special Oyster Stew podcast series, experts Pete McAteer, Dan Garrett and Jeff Gearheart from Oyster Consulting and Carolyn Welshhans from Morgan, Lewis & Bockius LLP dive deep into how firms can navigate regulatory scrutiny while leveraging AI's potential.

Whether you’re evaluating new fintech tools, implementing generative AI, or managing governance across platforms, this series offers es...

In this special series of the Oyster Stew podcast, Oyster Consulting’s Pete McAteer, Dan Garrett and Jeff Gearhart team up with Carolyn Welshhans, a partner at Morgan, Lewis & Bockius LLP, to unpack the real-world applications, regulatory risks, and emerging opportunities of AI.

In our kickoff episode, the panel explores how firms are already leveraging AI to drive compliance efficiency, manage operational workflows, and reduce ...

In this episode of the Oyster Stew podcast, Oyster Consulting’s Ed Wegener and Bryan Jacobsen break down how firms can implement risk-based monitoring, tailor training for frontline roles, conduct effective investigations, and ensure your firm’s Suspicious Activity Report (SAR) filings are what regulators require.

Key Takeaways 

• What regulators expect from your AML compliance program
• Risk-based surveillance: Going beyond cookie-cu...

Your CAT reporting compliance requires more than just data submission; you need comprehensive surveillance programs that include monitoring both exceptions and successful reports to maintain regulatory compliance.
 
 Listen to this week’s Oyster Stew podcast as Oyster experts Ralph Magee and Steve Kuhs share their expertise in CAT and CAIS reporting, providing you with the information you need to build an effective CAT repo...

In this episode of the Oyster Stew podcast, regulatory compliance experts Ed Wegener, Candy Palugi, and Nolan Hughes examine the nuanced world of custody regulations and outline concrete steps firms should take when custody is discovered, including ADV amendments, engaging independent accountants for verification audits, and implementing enhanced supervision procedures.

For compliance professionals and advisory firm leaders, this co...

Join Oyster experts as they provide real-world insight into the shifting CAT and CAIS landscape, including:

• The current regulatory focus on removing PII information from CAIS reporting
• Implementation uncertainty - where FINRA guidance falls short
• Member firms grappling with the scope of PII removal at account and customer levels
• Blue sheets and CAIS - redundant reporting and integration challenges
• CAT reporting's critical role ...

Your clearing agreement is the backbone of your brokerage firm’s operations, yet many firms fail to review it until it’s too late. In this week’s episode, Oyster’s David Williams and Peter Sheehan break down why your clearing contract should be a top priority and what you should consider when evaluating your agreements.

You’ll learn:

·      Why your clearing agreement should be a priority

·      Key warning signs for when to review yo...

In this episode of the Oyster Stew Podcast, Dan Garrett and Jay Donlin break down the critical—but often overlooked—factors that determine whether your technology investments will actually move the needle for your firm. From setting business-driven goals to avoiding the allure of flashy tools with limited value, they walk through practical insights that can save you time, money, and internal frustration.

What You’ll Learn

·       Sta...

Understanding and implementing the new FINCEN AML (anti-money laundering) requirements for registered investment advisors (RIAs) is crucial to achieving compliance by the 2026 deadline. Preparing for AML compliance as an RIA will take time. Firms must develop and implement risk-based AML programs, appoint compliance officers, establish monitoring systems, and ensure staff receive proper training—steps that require careful planning ...

Unlock the secrets of navigating FINRA's complex enforcement landscape with former enforcement officials Lisa Colon and Chris Kelly, who now provide defense counsel to broker-dealers. Drawing on their rich experience at FINRA and current roles at CSG Law, Lisa and Chris share their perspectives on the current state of FINRA enforcement in the securities industry. We discuss the statistics of previous enforcement actions, the i...

In this episode of the Oyster Stew Podcast, our panel of financial services experts breaks down the key considerations for outsourcing critical functions, such as compliance, finance, and vendor selection. Whether you’re launching a new firm, looking to scale efficiently, or navigating complex regulatory landscapes, outsourcing services can provide cost-effective expertise and operational flexibility.

Our expert panel—Sarah Sutton, ...

Building and maintaining strong relationships with regulators is not just beneficial, but essential. Join us for Part 2 as former regulators share their experience and insights into how to establish open, candid communication, and engage regulators on both professional and personal levels. Get tips on setting the right tone from leadership and fostering a culture of compliance.  Stay on the right side of compliance while cultivatin...

Ever wondered how to turn a regulatory exam into a strategic advantage? Join our discussion (Part 1 of 2) with former regulators Patrick Dennis, Evan Rosser, Ed Wegener, Jeffrey Hiller and Bill Reilly as they share their insights into what regulators consider when they come in to do exams, the art of managing document request lists, and how to enhance your firm’s credibility.

In this episode we'll explore:

• The shift in the r...

Unlock the secrets of crafting compliance manuals that truly work for your firm with insights from our regulatory compliance experts. Discover why using generic templates might be a recipe for disaster, and how aligning your written supervisory procedures with actual business practices can safeguard your firm's accountability and regulatory standing. In this episode you'll uncover:

• The top errors CCOs make wi...

Listen to Part 1 of our two-part series on Common Compliance Mistakes as Oyster’s regulatory compliance experts uncover how to spot, prevent, and correct the following issues:

Communication Missteps: Closing the Gaps

• discover where CCOs often fall short in capturing off-channel communications such as texts and chat room interactions  
• gain practical measures every firm should adopt 

Marketing Compliance Challenges
 
 M...

Our latest episode of Oyster Stew features industry veterans Dan Garrett, Jeff Wilk and Tim Buckler, who share their insights into the complexities of vendor risk and data protection.  Discover how to protect client data amid the vulnerabilities brought by new vendors and implementing a robust strategy to ensure operational continuity and resilience.

 In this informative podcast, you’ll learn:

• the importance of using structured p...