ADVANCED

Choose the level of service that fits your needs

A more aggressive approach in inspections and enforcement actions is the new normal. The SEC expects a comprehensive 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. In addition, two thirds of CCOs have multiple roles at their firms. 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 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 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). Our goal is to support the CCO and allow the CCO to focus more time on their other responsibilities.

The scope of the engagement will be determined in collaboration with each client, but typical levels include:

  • Level 1 Support
    • • Administer 206(4)-7 annual compliance review
      • On-site time to review specified issues with CCO
      • Expansive forensic testing of compliance procedures and records;
      • Preparation and coordination of compliance inquiries with service providers;
      • Compliance interviews with staff
      • Compliance manual review and update
      • Annual compliance training for staff
      • Manage process of updating and filing Form ADV Part 1 and review and update Part 2 as needed
      • Reasonable phone and email support for miscellaneous questions
      • Approx 80 to 100 consulting hours per yearCordium can also assist with an optional audit preparation service and audit support services as needed.
      Level 1 Lite
      • A similiar service as Level 1 (although certain tasks require increased responsibilites on the client)
      • Reasonable phone and email support for miscellaneous questions
      • Approx 70 consulting hours per year
  • Level 2 Support
    • Level 2 consists of the same annual review services as Level 1 plus:• Quarterly review and testing of specific compliance areas
      • Audit preparation support services
      • Reasonable phone and email support for miscellaneous questions
      • Approx 175 to 220 consulting hours per year
  • Level 3 Support
    • Level 3 is our highest level of support and is based on a much more frequent interaction. It typically includes everything in Level 1 and 2 plus:• New employee start-up support
      • Pro-active audit support
      • Monthly compliance tasks and undertakings
      • Monthly compliance meetings with the CCO
      • As needed (i.e., daily) phone and email support
      • Approx 600 to 660 consulting hours per year

"The most helpful part of the ELF Software is not having to receive paper statements anymore since employees must link their reportable brokerage accounts to the system.  It's also helpful to know that I can log on to monitor activity/transactions as close to real-time as possible."

Chief Compliance Officer, $4BN Hedge Fund Manager