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03/01/2021 10:21 AM | Anonymous

Meet Bill Reilly, Associate Director at Oyster Consulting, LLC and an Advisory level member of the FSDA.

We are speaking today with Bill Reilly

Bill, please tell us a little bit about yourself.

I was born in Connecticut and then moved to Florida in late 1960s; went to college at University of Florida. From 1984 until 2012, during my employment with the Florida Division of Securities, I held several positions, including Bureau Chief, and was responsible for running the Division’s examination program for broker-dealers and investment advisors. During this time, I was also involved in securities regulation at the national level through my association with the North American Securities Administrators Association. In 2012 I joined Oyster Consulting, opening a location in Tallahassee, Florida. While at Oyster I have worked with both broker-dealers and investment advisors to guide them through both proactive and reactive regulatory processes and compliance issues.

Tell us a little about your firm.

Oyster Consulting was formed in October 2008, which, depending on your perspective, was the best of times or the worst of times to start a securities consulting firm at the start of the Great Recession. Oyster provides consulting, software and outsourcing services following a risk-based approach with our clients. We take time to understand risks the organization is experiencing and develop policies, procedures, and practices to mitigate those risks. The team at Oyster includes not just former regulators and CCOs, but operations, trading and finance professionals that make sure our clients get practical results.

Why is it important for you and our firm, to be a member of the FSDA?

Oyster believes that most industry firms and individuals strive to comply with industry regulations and best practices, which protect clients. We work with industry members on compliance issues and participate through the FSDA in the effort to support reasonable regulations and provide educational outreach to investors and industry participants.

As both a consultant and regulator I have worked with industry members and investors to protect senior and vulnerable investors. I have personally seen the devastation which can occur when a senior investor is defrauded, losing some or all of their nest egg intended for their “golden years.” Oyster works with firms on developing effective policies, procedures, and best practices to protect these investors and actively participates in legislative and educational outreach efforts of the FSDA to protect our most vulnerable citizens.

Bill, thanks for taking time to speak with us today.

The FSDA strives to showcase a member of our group each month.

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