Technology and Consulting: A Winning Combination To Tackle Your Year-End Compliance Checklist

The end of the year is a busy time for investment advisors. In addition to caring for clients and undertaking your own strategic planning, you must carve out time for compliance.

In its November 2020 Risk Alert, the SEC’s Office of Compliance Inspections and Examinations (OCIE) outlined concerns about IA compliance. OCIE staff noted that many firms do not emphasize documenting annual reviews and expressed worries about the lack of dedicated resources allocated to compliance activities.

The SEC holds firms to a high standard, and rightly so. But fortunately, you do not have to go it alone. A combination of outside expert advice and compliance management technology solutions can ensure you meet all of the SEC’s compliance standards with relative ease.

Here are the six areas you should focus on before the end of the year and how the pairing of a compliance consultant team and technology solution can deliver the results you need.


Strengthening Your Cybersecurity Through Team Training

October is Cybersecurity Awareness Month. While children may be hiding from witches and ghosts, compliance professionals have even scarier goblins to contend with: hackers and cyber thieves.

Cybercrimes are on the rise. Ransomware attacks on the Colonial Pipeline and JBS drew public attention to an issue those in the financial industry know all too well. The wealth of PII inherent in finance makes banks, investment firms, and asset managers prime targets for bad actors.

If you’re a compliance officer, warding off cyber-scaries is a top priority. Fortunately, one of the most potent tools in your arsenal is all around you: your team.

Training your team to recognize potential threats and creating clear policies for reporting and escalating suspicious happenings can mitigate risks and protect your organization and your customers.