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SEC compliance program shares key regulatory issues to be aware of for the year ahead

SEC hosts compliance seminar to ready execs and regulatory officers for upcoming process exams.

As predicted in late 2013, compliance and regulation will continue to be a growing trend this year, not only for the legal industry but also within organizations in nearly every market as the industry moves towards a more compliant landscape.

Just last month, the Securities and Exchange Commission (SEC) hosted a workshop at its headquarters for nearly a thousand chief compliance officers and mutual fund leaders. The seminar identified key compliance issues the Commission recommends preparing for in advance of the examinations most company’s conduct on a regular basis each year. The program crammed roughly four hours of material into the all day event by providing attendees with one-on-one face time with experts in the industry.

According to a recent Money News report, SEC Chairman Mary Jo White opened up the day with a pep talk to the compliance community about how important the industry is to the country. She also explained that it’s up to the compliance people within the investment advisers and mutual funds to set the right tone, beginning at the top of the firms.

During the seminar, compliance experts shared insight into important topics such as improper fees, as customers move from the broker-dealer side to the investment adviser side, in order to increase income to the firm, as well as improper expenses that organizations need to be aware of to benefit profit and benefit management. Most importantly, leaders discussed the major conflicts of interest that commonly arise in organizations so business executives and compliance officers are aware of what to look out for before issues occur in the workplace.

Known for being a key leader and resource in the regulatory and legal industry, the SEC recently released a draft of its four-year strategic plan, which outlined more than 70 initiatives intended to improve its efficiency and effectiveness. The SEC stated that the ever-increasing global environment of financial and securities markets has influenced its goals and priorities, noting, however, that “no plan can anticipate all possible scenarios.”


For related reports in the compliance and regulatory sector, read these recent articles on InsideCounsel:

SEC releases draft of four-year strategic plan

Chief legal officers most concerned about ethics and compliance, regulatory changes

SEC member calls for tighter market fund regulation

Best practices for compliance in an ever-changing regulatory landscape

Contributing Author

Stefanie Mosca

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