Moving to a Proactive Compliance Approach | Vigilant Insights
Vigilant Insights
Brief Introduction
Vigilant was recently awarded Best Regulatory Advisory & Compliance Firm by Hedgeweek.
Following up from the award announcement, our President & CEO, Salvatore Faia, JD, CPA, CFE and COO, Chuck Martin, MBA, were both quoted on an article from Hedgeweek in moving to a proactive compliance approach.
Vigilant Insights on having a Proactive Compliance Approach
- Compliance has now become a proactive exercise, to anticipate regulatory change and ensure firms remain up to speed with the latest requirements.
- Salvatore commented on the increase in regulatory changes, stating, “While historically, clients would have one or so major regulatory updates in a year, in recent years clients have had to contend with multiple significant regulatory updates in a year, and this is in addition to the standard sweep examination guidance and regulatory risk alerts.”
- Regulatory uptick has equated to more time and specialized focus on compliance policies around these updates.
- As the new Marketing Rule is now in effect, Chuck believes, “We anticipate this will require additional information needed to be released by the SEC after the effective date.”
- The SEC has really focused on investor protection and has displayed this on multiple SEC charges. Chuck advised, “This is well worth the attention of many hedge funds as it is crucial to have the support and infrastructure to run a strong compliance program.”
- As it relates to having an experienced Chief Compliance Officer to not only serve in the capacity for the Fund or Adviser, but also have the appropriate support staff, Salvatore noted, “Many firms are looking to leverage specialized outsourced providers, such as Vigilant, which are not only cost effective, but allows firms to utilize in-house personnel to focus on their core competencies.”
Vigilant’s Final Conclusion
The success of your firm depends on the strength of your compliance. As seen in recent SEC charges, the failure to comply with ongoing changes to the regulatory environment can be devastating. When making the right choice to outsource or co-source your Compliance, it is vital that you choose the proper firm.
Vigilant is committed to your business and its goals. We act as a partner in your business, with your success as our highest priority. Every firm has different compliance needs, and we work with our clients to find out what level of support they require. Our services range and vary based on your needs.