Regulatory and compliance programs in financial services firms should be complete, effective and designed to withstand the most stringent regulatory reviews – without disrupting the business. The best regulatory and compliance programs seamlessly integrate into the firm’s business operations, enabling firms to save costs and reputational damage resulting from regulatory enforcement efforts, as well as criminal and civil penalties.
In the U.S., a strong compliance program is particularly significant as the U.S. Securities and Exchange Commission (SEC) continues its intensive investigative and enforcement efforts. In fiscal year 2015, there were 807 SEC enforcement actions. This was an increase from the 755 enforcement actions in 2014. Meanwhile, regulation of the U.S. investment advisory industry continues to expand, with new efforts across US regulators focusing on areas such as cybersecurity and AML measures.
Duff & Phelps’ award-winning compliance consulting team has extensive experience in financial services and advisory industries, drawn from roles such as attorneys, chief compliance officers, fund administrators, and regulators. We work with a broad range of firms throughout the business lifecycle, including U.S. and global investment advisers, hedge funds, private equity funds, broker-dealers, BDCs and other alternative and traditional asset managers.
Our team has first-hand practical knowledge and experience, gleaned from years of providing practical start-up and registration assistance, developing effective compliance and regulatory programs, and assisting with regulatory examinations and investigations. Our dedicated U.S. compliance consulting team has in-depth knowledge of the SEC registration process, rules and regulations (including Dodd-Frank and its implications), as well as CFTC and NFA registration and reporting requirements. Having a global presence also enables us to assist clients to streamline compliance practices and procedures that meet global regulatory standards, including those from the FCA, SFC and other jurisdictional regulators.