- In the News
SEC Abolishes Institutional Stable Value Prime Funds
“The SEC has adopted new money market fund rules that require a floating net asset value for institutional prime money market funds, allow liquidity fees...”
Audit Firm Will Pay Over $4 Million for Lobbying Activities that Violated Independence Rules
“A large audit firm agreed to pay over $4 Million in fines, disgorgement, and interest for engaging in lobbying activities that the SEC charges violated...”
FINRA Releases Order Routing and Execution Quality Exam Letter
“FINRA has released its information request letter for reviews of ‘order routing and execution quality of customer orders.’ FINRA indicates...”
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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.