The pillars of regulatory compliance: Identifying when your investment firm needs regulatory compliance consulting


You’re a compliance professional who knows how to get the job done, but even experts sometimes need outside help. New regulations and violation risks create new demands on your team and your compliance program. It can be difficult to keep up with all these changes, so your investment firm needs a consulting solution.

In this blog series, “the pillars of regulatory compliance,” we cover resources which you may consider when building (or expanding) your firm’s compliance program. Last time, we talked about the impact regulatory compliance technology. Today, we’re focusing on regulatory compliance consulting: when you need it and how consultants can help you avoid violation and remain in compliance for the long-run.

How compliance consulting can take your firm’s compliance program to the next level

Your compliance program demands accuracy to properly mitigate risk. With compliance consulting, your investment firm relies on the expertise of compliance professionals to help your firm meet regulatory requirements and remain in compliance while minimizing burdens on business processes. Compliance consulting can help your firm:

  • Identify gaps in its regulatory compliance program.

This can be done through an evaluation of your firm’s compliance policies, procedures and records. Compliance consultants can not only determine areas of improvement but offer actionable insights to empower you to take your firm’s compliance program to the next level. At NRS, consulting services are offered remotely and on-site.

  • Build a culture of compliance at your investment firm.

Often, compliance consultants are former compliance professionals and regulators who know what it takes to build a robust compliance program. With decades of experience supporting their expertise, compliance consultants can act as a true partner and resource for your firm, highlighting tactics to help you build and maintain an active culture of compliance.

  • Keep a finger on the pulse of the regulatory landscape.

Compliance consultants can offer continuous insight and applicable best practice solutions to tackle timely regulatory issues. With their pulse on the industry, and their depth of regulatory knowledge, compliance consultants amplify your compliance efforts and ensure you stay up-to-date with the latest industry alerts.

When your investment firm should bring in a regulatory compliance consultant

In the past fiscal year, the SEC collected $6.4 billion in fines for violations, many of which were for preventable rule violations. Such violations not only cost your firm money but can cost your hard-earned reputation.

You might need compliance consulting services if:

  • A regulator rolls out a new rule or amendment that applies to your firm.
  • Your firm hasn’t assessed its compliance program in over a year.
  • Your firm is repeatedly experiencing the same compliance risks.
  • Your firm has violated a regulation.
  • Your firm is assessing the cost of running its compliance program.

Consultants offer exceptional guidance on your clients’ compliance strategy, minimize risk and lower costs in the long run.

The COMPLY portfolio of firms offers compliance consulting solutions which spot gaps in your firm’s compliance program and offers recommendations on how to address them. Think we might be perfect for you? Schedule a demo today!