A more aggressive approach in inspections and enforcement actions is the new normal. The SEC expects a comprehensive, customized Rule 38a-1 compliance program that is effective, well tested and administered appropriately.
However, even in today’s tough regulatory environment, many chief compliance officers (‘CCOs’) are still a compliance department of one and this is more often the case at small to medium sized fund advisers. In addition, two thirds of CCOs have multiple roles at their firms. Often, the Fund CCO is also the adviser’s CCO and may be additionally engaged in executive or operational efforts, serving as either the adviser’s COO or CFO. The demands of these multiple roles can sometimes impede the CCO’s efficient administration of a fund’s compliance program.
Cordium can help by providing assistance with each element of a Fund CCO’s compliance program, allowing you to better allocate your limited resources and time. We can assist you with your oversight responsibility and provide an independent review that minimizes the inherent conflicts between the multiple roles.
We offer different levels of support so that you can choose the level that fits your fund’s needs. Our mutual fund compliance team will work with you on a regular basis to handle many of your weekly, monthly, quarterly or annual compliance responsibilities depending on the service level that suits your needs.