Published on Aug 31st, 2023 |

Regulatory Impact on Smaller Firms | Bernadette Murphy Insights

Vigilant Insights

Brief Introduction

Vigilant Managing Director, Bernadette Murphy, MSL, was recently quoted in InvestmentNews discussing the impact of SEC regulations on Registered Investment Advisers (“RIAs”).

As the SEC continues its intense regulatory agenda through 2023 (most recently the adoption of the Private Fund Rule), Firms are forced to allocate significant resources to their compliance departments.

Bernadette Murphy Insights

Bernadette Murphy Insights

This story covers the “tsunami” of new rules and amendments that have been adopted in the last few years.

We’ve discussed the difficulties that executives tend to face when they try to take on the CCO role while handling other responsibilities, and Bernadette discusses that “[compliance] is not something you can do between phone calls”.

When it comes to the impact on the plethora of new SEC regulations has on smaller Firms, Bernadette said that “CCOs are really under the gun”.

Compliance trends for 2023 involve increased on-site examinations and more compliance resources required. Smaller Firms “can’t keep up with the regulatory environment…the biggest challenge will be for smaller firms”, she told the news outlet.

Vigilant's Conclusion

Vigilant’s Conclusion

As the SEC continues to put more pressure on the compliance departments of Firms, especially smaller firms, it is vital that one reaches out for support, expertise, and partnership when needed.

Vigilant taps into the industry trends and is closely monitoring/analyzing new rules that are being adopted and coming into effect while bringing centuries of combined experience from compliance professionals to the table.

If your Firm is struggling to keep on top of this dynamic regulatory environment, or you want to make sure that your efforts so far have been successful, reach out to us today.

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