New York, October 11, 2016: Building on its team of compliance advisory professionals, Compliance Risk Concepts LLC (CRC) today announced the hire of David J. Amster as Principal and Head of its Fund and Dealer Advisory practice.
“David’s professionalism and breadth of buy-side and sell-side product knowledge gives him 360-degree awareness of the issues financial services firms confront daily in the marketplace, and will permit him to immediately establish rapport and trust with clients,” said Mitch Avnet, CRC’s CEO and Managing Partner. “He solidifies CRC’s competitive edge in delivering high-quality, cost-effective regulatory advice and solutions to its Investment Advisor and Broker-Dealer clients.”
As leader of CRC’s Fund and Dealer Advisory practice, Mr. Amster will develop new client relationships and also advise on operational matters.
For more than 15 years, Mr. Amster served as a Managing Director and the Chief Compliance Officer of CRT Capital Group LLC’s US broker-dealer unit, CRT’s FCA-registered UK-based dealer affiliate, CRT Capital (UK) Ltd., and CRT’s domestic registered investment advisory affiliate, Harbor Drive Asset Management. During his tenure, CRT Capital Group expanded from a convertible arbitrage and research business to ultimately trade high yield debt, distressed debt, equities, securitized products, treasuries, foreign exchange products and to offer investment banking services.
Earlier in his career, Mr. Amster served as an Associate Director with UBS Investment Bank LLC’s Fixed Income Capital Markets Compliance Group, where he had senior support responsibilities for the firm’s Primary Dealership, Rates and Repo Desks and as a Securities Examiner in FINRA’s New York District Office. While at FINRA, Mr. Amster led comprehensive on-site examinations of the books, records and operational policies and procedures of bulge bracket New York Stock Exchange member dealers. Mr. Amster began his Wall Street career with Salomon Brothers, Inc., as a Syndicate Coordinator for its Private Investment Department.
Mr. Amster said, “Drawing upon my experience in the capital markets as a participant, supervisor and regulator, I’m eager to identify potential and existing regulatory challenges and to develop corresponding client solutions. My approach comfortably balances sensible regulatory risk mitigation with the practicality demands of front office personnel. CRC is an organization whose compliance professionals offer approaches that are both commercially focused and will stand the test of regulatory scrutiny.”
Mr. Amster graduated from Binghamton University with a BA in Economics and received his MBA in Finance from Fordham University’s Gabelli School of Business.
COMPLIANCE BULLETIN: DOL FIDUCIARY RULE
By David Amster, Principal and Head of Fund and Dealer Advisory at Compliance Risk Concepts
The United States Department of Labor (“DOL”) recently finalized rules that require financial institutions that offer retirement advice to address conflicts of interest (“COIs”) that arise as a result of offering such advice (the “Fiduciary Rule”). The effective date is April 10, 2017. As one would expect with any new rule of this magnitude, there are potential minefields everywhere.
David Amster, examines these minefields and discusses what you need to know about the DOL Fiduciary Rule to stay ahead of the game.