NSCP Currents: May 2017 Special Reprint

Managing the Impact of High CCO Turnover in Financial Services Sector

By Carlos Guillen

In 2016 when search firm Russell  Reynolds  released  its study of the role of the corporate compliance officer in the financial services sector(1), the most alarming finding was that there was a 40% turnover rate among CCOs  over a two-year period. This does not come  as a surprise to those of us in the compliance world.  We  have been dealing with  the  growing  impact  of  CCO turnover for some  time  as  asset  management  firms, banks and  insurance  companies  have  had  to  grapple with the increasing complexity of compliance regulation and  the  dearth  of  qualified CCOs. Read the full article here.

NSCP Currents May 2017 Special Reprint

Managing the Impact of High CCO Turnover in Financial Services Sector

By Carlos Guillen

In 2016 when search firm Russell  Reynolds  released  its study of the role of the corporate compliance officer in the financial services sector(1), the most alarming finding was that there was a 40% turnover rate among CCOs  over a two-year period. This does not come  as a surprise to those of us in the compliance world.  We  have been dealing with  the  growing  impact  of  CCO turnover for some  time  as  asset  management  firms, banks and  insurance  companies  have  had  to  grapple with the increasing complexity of compliance regulation and  the  dearth  of  qualified CCOs. Read the full article here.

Leading Compliance Consulting Firms Join BasisCode Advisory Council

5 Leading Compliance Consulting Firms Join BasisCode Advisory Council as charter members

ATLANTA, January 3, 2017 – BasisCode Compliance LLC (www.basiscode.com), a leading provider of regulatory compliance software solutions, has formed an advisory council of leading compliance consulting firms to provide industry input in the continuing development of its award-winning compliance software platform. (more…)

Cipperman Compliance Services Implements BasisCode Compliance Software Platform

WAYNE, Pa and ATLANTA, November 15, 2016 – Cipperman Compliance Services LLC (www.cipperman.com), a leading provider of regulatory compliance services for investment advisers, registered and private funds, broker-dealers and money managers that collectively manage more than $40 billion in assets, is implementing BasisCode Compliance LLC’s software platform to improve compliance management for its global clients. (more…)

New SEC Rules Increase Scrutiny of Outside Compliance Chiefs

wealth-management

The new SEC rules underscore the importance of selecting a qualified chief compliance officer.

By Carlos Guillen

With the Securities and Exchange Commission announcing adoption of Form ADV amendments proposed last year, regulated entities must now report if they outsource their chief compliance officer, and specify the name and tax identification for that individual.

The goal, according to the agency, is to enhance monitoring and regulation of the asset management industry, and improve the agency’s ability to assess potential risk. Firms must file newly amended Form ADVs under the requirement with the first amendment filed after October 1, 2017. (more…)

BasisCode Launches First Comprehensive Insider Trading Software Solution

Insider Trading Manager Detects Suspicious Trades by Tracking and
Analyzing Trading through Pre-Programmed Filters;

Integrates into Compliance Work Flow and Minimizes “False Positives”

ATLANTA, October 11, 2016 – The first comprehensive insider trading software, which tracks and analyzes trading in real-time and detects suspicious trades, has been introduced by BasisCode Compliance LLC (www.basiscode.com), a leading provider of regulatory compliance software solutions.

Insider Trading Manager™ addresses a major and prevalent risk faced by financial services firms today in terms of reputational damage and even survival. The software provides a complete work flow analysis totally integrated into a firm’s compliance monitoring system. (more…)