What does ongoing RIA compliance involve?

The regulatory landscape that RIAs must navigate is daunting, to say the least. Every year the SEC and DOL roll out new rules and regulations, as well as harsher punishments for non-compliance.

On this week’s Ask An AdLaw Expert, we’re talking with Michelle Atlas-Quinn, J.D., Managing Director of Operations, about how AdvisorLaw’s ongoing compliance can be tailored to meet the specific needs of any firm.

What ongoing RIA compliance services can AdvisorLaw tailor to your firm? AdvisorLaw offers ongoing legal and compliance consulting support to Registered Investment Advisors (RIA) and RIA firms. Learn more or contact us for a complimentary consultation.

Blog Contact

It’s actually a lot more than you would think. Ongoing RIA compliance comes from the regulatory structure that registered investment advisors are developed under; the 1940 Act. The Advisor Act requires a duty of care and a duty of loyalty, and from that, there are myriad regulations that you must follow. First and foremost, you need to have a policies and procedures manual that helps you to meet all of your obligations but also is tailored to the type of business that you do and the type of service. Then you’ll need a chief compliance officer who is well versed and has good experience understanding the industry and the requirements that come with the industry. They need to supervise that manual and to be sure that you’re meeting all of those obligations. Your individual registered investment advisors need to be trained properly, and you need to constantly test to be sure that those policies and procedures are being met. Keep in touch with what’s happening in the marketplace, because new rules are created every year, and you need to stay up to date with those, as well. It’s a long process, and it’s an important process, and you want to make sure when the SEC or your state comes in for an audit that you’re prepared and you’re doing everything right.