Docupace Launches New Reg BI Compliance Solution
Docupace Technologies LLC, a Los Angeles-based financial technology services company, has launched a new Reg BI and Form CRS digital solution for broker-dealers and advisors.
With the Security and Exchange Commission’s Regulation Best Interest going into effect on June 30, 2020, broker-dealers and associated financial advisors will be required to provide a relationship summary (Form CRS) to retail investors whenever there is a certain trigger event, such as when the advisor recommends a new investment product. Broker-dealers are also required to store records of Form CRS paperwork and delivery information.
When financial advisory firms choose the SEC’s electronic option for delivery and storage of Form CRS, Docupace offers a respite from the tedious, expensive administrative work associated with a paper-based approach. The summary can then be delivered electronically to the investor.
In addition to saving firms added costs for printing, mailing, faxing and filing, an electronic Form CRS workflow can help advisors avoid falling out of compliance. Firms will be able to use a multistep paperless workflow to automatically generate different versions of Form CRS.
ETFMG And Wedbush Launch Pure-Play Global Cloud Computing ETF
ETFMG, a thematic ETF issuer, has partnered with Wedbush Securities, a financial services and investment banking firm, to introduce the Wedbush ETFMG Global Cloud Technology ETF.
The IVES ETF is a pure play on the global cloud theme of small to mid-cap infrastructure players, focusing on vendors and companies that provide the backbone of cloud computing and stand to capture a major portion of cloud spending—an estimated 60% to 70% of cloud spending over the next four years.
The constituent companies of IVES focus on infrastructure equipment, software as a service (SaaS), connectivity, data backup and storage services, and data center management for enterprise-based software applications. The companies are also engaged in enterprise cloud services.