Private equity, venture capital, fund of funds, and real estate fund managers, are not only subject to several regulations around employee ethics under the SEC’s Investment Advisers Act of 1940, but they often face increased pressure from limited partners to build and maintain credible compliance programs. When compliance departments administer code of Ethic’s attestations and manually approve preclearance requests, compliance teams are burdened with managing paperwork rather than optimizing the impact of compliance.
ComplySci compliance software digitally transforms compliance supervision by building customized workflows around Code of Ethics policies, empowering compliance officers to focus on data insights rather than data management. With tools designed to track and monitor compliance related to employee trading, gifts and entertainment, political contributions, outside business activities and marketing materials, ComplySci safeguards against potential risks and conflicts of interest.
“When operational due diligence comes around, your compliance system can make or break your fundraising goals.”-CCO of a Private Equity Firm
Protect Your Reputation
Regulators are increasingly leveraging technology and data metrics prior to examinations to identify non-compliant activity that a firm may not be aware of. By automating compliance workflows and analyzing underlying data to flag behavior such as insider trading or front-running, ComplySci empowers private fund managers to identify and address potential risks before they are uncovered during an examination.
Increase Investor Confidence
Limited partners are increasingly asking for more information about a fund manager’s compliance program during fundraising and quarterly reporting. For example, ILPA has gradually added new questions about firm compliance programs into their DDQ template. Incorporating compliance software like ComplySci demonstrates a commitment to ethical behavior and can help your firm stand out during fundraising.
SHIFT YOUR FOCUS
Prioritize strategic activities
Compliance officers can wear many hats, but when the majority of their workday is spent manually managing and monitoring employee’s or supervised person’s activity, it can be difficult to prioritize value-add projects. ComplySci takes the manual work out of compliance monitoring, freeing up more time to focus on strategic projects.