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Mock SEC/State Examinations
Mock SEC
and state examinations assist firms with understanding the SEC examination
process and evaluating their firm's compliance with the ever-changing
rules and regulations of the SEC.
Compliance examinations
are an important component of a firm's compliance program. MGL has
extensive experience providing on-site home office and branch office
compliance examinations for investment advisors, broker/dealers
and insurance companies. For investment advisors, these examinations
generally cover the following areas:
- Form ADV/Brochure
Disclosure and Delivery
- Client Agreements,
including Solicitor Agreements and Disclosure Letters
- Portfolio Management
- Brokerage Practices
including Aggregation and Allocation Policies, Best Execution
and Soft Dollar Arrangements
- Compensation/Client
Fees
- Custody of Client
Funds and Securities
- Advertising, including
Marketing/Performance Presentations and Website review
- Wrap Fee Programs
- Internal Controls
- Conflicts of Interest
- Insider Trading Policies
- Books and Records
- Proxy Voting Policies
- Business Recovery
Planning
- Privacy Policies
At the end of our
review, MGL will provide you with a confidential report identifying
any deficiencies noted during the examination, as well as provide
you with recommendations regarding corrective actions that your
firm can take to correct those deficiencies. At MGL, we believe
a compliance examination should be more than just an inspection
process, we believe it should also be an educational process
for our clients' staff. Therefore, where a deficiency has been
detected, our professionals will work with your staff during
the examination to educate your staff on the relevant state
and SEC rules which govern those aspects of your firm's business.
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