Broker-Dealer & Investment Adviser Compliance – United States

As financial planners and money managers for wealthy individuals and corporations, registered investment advisors or RIAs must comply with a set of rules and regulations laid down by the Securities and Exchange Commission (SEC). Broker-Dealers are also no exception when it comes to compliance.
Internal Audit Management

Establishing a Culture of Compliance for Dealers & Investment Advisers

According to the Investment Advisers Act of 1940, the Registered Investment Advisors (RIAs) have to set up plans and strategies that will help them comply with the rules established by the Securities and Exchange Commission. They are required to comply with general regulations & responsibilities such as general responsibility, disclosures to clients, maintenance of records.
Internal Audit Management

The Top Challenges to Broker-Dealer & Investment Adviser Compliance

Professionals face punishment or suspension by boards of standards if investment advisors do not follow the rules and regulations.
Here are some of the most common compliance issues advisers encounter in today’s industry:
  • Getting a Valuation Right
  • Identity Theft and Cybersecurity
  • Compliance with Advertising and Marketing
  • Custody of Assets
  • Compliance with Foreign Taxes
Consequences of Broker-Dealer & Investment Adviser Non-compliance
The failure to maintain adequate compliance policies is a significant violation.
Failure to comply with advertising regulations would also attract a quantum of penalties.
Failure to obtain client’s consent for transactions and collect the required securities disclosure reports can result in regulatory action.
Generic solution to avoid Broker-Dealer & Investment Adviser Non-compliance
RIS and Brokers need to plan and build a holistic compliance program. Adopting a systematic approach to compliance, digitalizing records, maintaining policies, and managing evidence to meet any audit requirements, providing full disclosure of material facts to clients – all can ensure compliance.
How VComply can help with broker dealer and investment adviser non-compliance
VComply helps you to map your compliance obligation with controls, assess risks, analyze the status of obligations, and remediate compliance issues.
Dot Shape
Policy and Procedure Management
  • Set up a policy portal with written compliance policies and procedures
  • Maintain a central repository for filing requirements and documents
  • Attest your policies and train your employees to keep them abreast on policy changes
  • Digitalize record keeping and practices to avoid violations and to confirm they are dealt with appropriate manner
Maintain Risk Register
Compliance Process and Task Design
  • Setup or import frameworks and controls, and identify tasks required for meeting standards.
  • Establish compliance task library to map obligations to controls.
  • Create tasks that corresponds to controls that address risks.
  • Automate compliance tasks and activities.
Perform Risk Analysis
Compliance Reporting
  • Track the status of compliance tasks in real time.
  • Automatically generate compliance reports that provide a 360-degree view of the compliance posture.
  • Gain compliance and risk insights, understand issues and drive alignment on decisions
  • Proactively plan and stay prepared for future compliance requirements.
Risk Assessment
Compliance Risk Management
  • Define a plan for risk management and communication across the team.
  • Define the corrective action planning for crisis management.
  • Proactively create risk mitigation plan and automate the processes.
  • Provide real-time insights into risk status with dynamic dashboards.
Risk Management
Maintain Risk Register Perform Risk Analysis Risk Assessment Risk Management
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