More On Legal & Compliancefrom The Advisor's Professional Library
- Regulatory Oversight of Investment Advisors Although the regulatory environment is in a state of flux, it is imperative that RIAs adhere to their compliance obligations. To ensure compliance, RIAs and IARs must fully understand what those obligations are.
- Trading Practices and Errors When SEC-registered investment advisors conduct annual audits of firm policies and procedures, they should pay close attention to trading practices. Though usually not required to, state-registered advisors should look at their trading practices and revise policies that do not fully protect clients.
Regulatory Compliance has introduced a service intended to streamline service offerings for clients in a clear, logical manner so that they can stay on top of regulatory deadlines and filings.
The firm, which provides consulting and compliance offerings for broker-dealers and RIAs, says that the new program, available in several different levels, can be tailored to fit each company’s compliance program needs.
Dennis McCarron, chief operating officer at Regulatory Compliance, said in an interview that since the firm does compliance and registration consulting for RIAs, hedge funds, private equity funds, BDs, M&A firms and third-party marketers, among others, the consulting programs have been designed into different groups.
McCarron, who said he brings a client perspective to the table at the firm, adds that the Partner Program was originally known as Compliance Partners and now in its new incarnation provides “different levels of services to serve different levels and complexities” of the businesses that make up the firm’s clientele.
For RIAs, there are three different levels: Pro, Plus and Elite. For BDs, there are four: Express, Pro, Plus and Elite. The Elite level, said McCarron, is set up to “help [client firms] execute on everything.” The firm will design a compliance program that meets expectations and supports the client’s long-term growth.
The Elite partner, added McCarron, will “talk with the compliance officer and team, and also with the CEO” in the course of determining the firm’s growth aspirations so that the program can be tailored to provide the support it needs to execute its long-term plans.
“Compliance is part of your business, where historically it has not been,” McCarron said. “With all the rules and regulations coming down the road, business is more dependent on compliance functions than it has been in the past. [The Partner Program] will get [client] businesses to understand the properties and functionalities of compliance.”