Published on Jun 9th, 2022 |

Brief Introduction to the Trends in Compliance

As we get closer to Q3, we have seen a lot of forecasted trends for 2022 already taking place in the Industry.

These trends are worth your attention to help you stay ahead and become stronger sailing into Q3.

Below are 5 current trends in Compliance that you should be aware of for 2022.

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current trends in compliance

5 Current Trends in Compliance

1. Investor Protection

Investor Protection has been a top priority by the SEC, as we have seen in multiple Proposed Rules so far in 2022.

2. Proposed Rules and Risk Alerts

There have been various Proposed Rules and Risk Alerts so far this year from the SEC and Division of Examinations, targeting Private Funds, ESG, Cybersecurity, and more.

  • Expect more clarity to come forward towards these key target areas throughout the year.
  • The recent 2022 Examination Priorities and Proposed Rules suggests that new Rules could become effective some time this year.

3. External Partner Compliance Support

Regarding Private Equity and Private Funds, having third-party external partners to support compliance efforts can be vital, especially for current CCOs in dual hatted positions (e.g. CCO/CFO).

4. Cost Benefits to Outsourcing CCO

From a pure cost perspective, hiring a dedicated CCO in-house for smaller and mid-sized Firms could be difficult to find as salaries have continued to rise with a small market for hiring CCOs.

  • Hiring an external CCO to support or outsource the role can be very cost effective as your Firm continues to grow, and it will open access to a plethora of internal resources which the external CCO has to offer.

5. Tech is Becoming More Important in Compliance

It is important to have control of the risk and compliance environment for 2022. Being able to use software can be crucial for your company to make safer risk-related decisions.

  • According to ComputerWeeklyTech could account for over half of regulatory compliance spending, which means using and implementing software is more important than ever to stay ahead of the current environment.

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