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Regulatory Audit Response

Whether it is the SEC or State regulators performing an audit of the compliance program, either will ultimately issue a letter of any deficiency findings of that audit. The response of a firm must be decisive and on point. The response must provide the regulatory authority a clear understanding of the corrective measures that the firm will take in the near term and the measures the firm will take to ensure that the deficiency will not be an issue in the future.

Not only does the response need to placate the regulator’s concerns, it must be devised with an eye to the firm’s operations and not be overly burdensome on the firm. ComplianceWorks specializes in devising corrective measures that make business sense for the firm and at the same time meet the concerns of the regulators. For certain issues, the resolution may require some negotiation with the regulatory body in order to achieve a mutually beneficial solution. The experience of ComplianceWorks’ staff is important for firms in this situation.