Published on Oct 26th, 2022 |

Vigilant Insights

Brief Introduction

Regulatory errors can be costly, not only from a fine and disgorgement perspective, but from a business and reputational perspective.

It has become commonplace for potential investors and clients to focus on a Firm’s Compliance Program, Operations, and Regulatory History prior to and after making an investment. Thus, ensuring that Compliance plays a key role in your business model should help mitigate those risks.

7 Tips For Compliance Program Improvement

When designing your compliance operations, we have 7 tips for success:
  1. Create a culture of compliance throughout your organization from top to bottom.
  2. Institute policies and procedures that monitor employees for compliance while also incentivizing them to monitor their own compliance.
  3. Give your compliance officers enough resources and power to complete their job requirements.
  4. Have a proactive mentality to compliance. Look for potential errors and anticipate regulatory changes to limit the time spent reacting to compliance failures.
  5. Remain in a state of constant preparation for any SEC examinations or internal compliance issues: perform mock exams, and maintain written procedures for responding to SEC inquiries.
  6. Compliance training of all employees should be ongoing and frequent in your organization.
  7. Ensure that your compliance officers are tapped into an experienced network of compliance experts.

Vigilant’s Final Conclusion

It can be a daunting task to develop a strong culture of compliance in your organization. It requires careful planning, proper resources, and the ongoing commitment of every employee.

Vigilant specializes in building custom Compliance Programs and can provide Compliance Support to help build this strong culture in your Firm at all levels. Every firm has different compliance needs, and we work with our clients to find out what level of support they require. Our services range from co-sourcing to acting as your CCO.

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