Compliance is a “have to” in the financial services industry. Advisory firms are required to have a compliance officer or a designated third-party compliance administrator, either of which must meet specific qualifications. Doing only as much as is required, however, still leaves you open to the risk of regulatory issues and scrutiny that you’re not prepared for.
Recently, FP Transitions’ Marcus Hagood sat down with David Birnbaum, JD, a managing partner at Bates Group, for a series of Roundtable Talks delving into the nuances of proper compliance management. In these conversations, David stresses the importance of self compliance checks, recognizing when little things spell out a larger problem, and the necessity for effective compliance, monitored through a full-time compliance manager. He also explains the impact of proper compliance on business value during a sale, as well as speculating on the regulatory effects of upcoming rules and administration shifts.The full Roundtable Talk series with David is linked below:
Compliance Audits & Practice Value - David and Marcus explore why performing compliance self-audits is necessary for protecting your business, as well as how good compliance can protect business value. WATCH NOW