COMPLY-How Advisers Can Ramp Up For Compliance Review Checkups
By Matt Rybaltowski, August 14, 2015
Guy Talarico, CEO and Founder of Alaric Compliance Services, LLC was quoted in the August 14, 2015 COMPLY column on Reuters.com, “How Advisers can Ramp Up for Compliance Review Checkups,” by Matt Rybaltowski. The column discusses how financial advisory firms preparing for the Rule 206(4)-7 annual review of their compliance programs year round. For the firms that may be behind in this preparation, there are certain areas that they should be addressed, including reviewing and comparing portfolio investments to the guidelines that are disclosed to investors, reviewing expense disclosures, ensuring that any deficiencies identified by Regulators in prior exams have been corrected and that the corrective actions have been documented, updating and reviewing the compliance checklists to be sure that they are current conducting mock audits to identifying any issues, updating your policies and procedures to reflect current business activities, regulatory changes and Cybersecurity threats. Firms should not be afraid to hire consultants to help them with many of these tasks.
Excerpt from Article:
“For many firms, preparation is a year-round exercise that includes reviewing trade orders and making sure portfolios’ investments synch with guidelines disclosed to investors, said Guy Talarico, chief executive officer of Alaric Compliance Services in New York.
“Firms that have not thought carefully about whether they are properly disclosing expenses to investors, for instance, should make that a priority, Talarico said.”