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SEC Charges Private Equity Firm with Misallocating Expenses
“The SEC has charged a private equity firm and its principal with securities fraud for charging management company expenses to the fund and as well as...”
SEC Will Focus on Compliance in New Exam Initiative
“The SEC’s Office of Compliance Inspections and Examinations announced an initiative to conduct examinations of all advisers that have been in business for at least 3 years but have never been examined. These examinations will focus on...”
Large BD/Custodian Fined $8 Million and AML CCO Fined and Suspended over AML Compliance Issues
“FINRA fined a large broker-dealer/custodian $8 Million and fined and suspended its AML Compliance Officer for several anti-money laundering compliance failures
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Will it withstand SEC scrutiny during a regulatory exam? Do you assess your regulatory risk the same way that the SEC does? Should you be worried?
Worst-case scenario: You’ve done something so egregious that the SEC lawyers refer the case to Enforcement, which could lead to public censure, fines, expensive undertakings, and industry bans.
Least-bad scenario: A problem shows up on a deficiency letter that a potential client will see.
In between: You and your firm become entangled in an ongoing regulatory dialog with the SEC that costs time and money. And, once the SEC determines that you or your firm is a compliance risk, you will likely see the examiners on an annual (if not continuing) basis.
With the increasing complexity and visibility of regulatory oversight, investment organizations are choosing to utilize independent partners to develop and execute compliance programs.
Cipperman Compliance Services (CCS) provides compliance services to registered funds and money managers. CCS creates compliance solutions that work for dynamic firms by leveraging the experience of a multi-disciplinary team of lawyers, compliance and operations professionals, and applying a management-focused approach to client services.
CCS takes full accountability for implementing its advice and solutions, which include serving as a firm’s chief compliance officer, creating customized compliance programs, conducting compliance reviews, and responding to regulatory inquiries.