Compliance Solution for Hedge Funds

MyComplianceOffice is specifically designed for hedge funds enabling both SEC-registered and unregistered hedge funds to automate their compliance program and meet the demands of SEC regulation.

The proposed Private Fund Investment Advisers Registration Act of 2009 issued on July 15th by the Treasury Department, if voted into law, will require firms managing private pools of capital greater than $30M to register and become Registered Investment Advisers (RIAs). This includes all Hedge Funds Firms.

While it is still unclear as to what the final legislation will contain, registration as Investment Advisers with the SEC will most likely result in Hedge Fund Firms having to meet most of the requirements of the Investment Advisers Act of 1940. This will result in the implementation of a compliance program appropriate for an RIA.

Your Challenges

Unregistered Hedge Fund Firms

  • What do I need to do to prepare for the proposed legislation?
  • How can we ensure minimal impact to the ongoing investment and operational activities of the firm as we build a compliance program which conforms to SEC standards?
  • How can we ensure the culture of the firm is adjusted to include an attitude to compliance that will be required with registration?
  • How can I minimize the cost of administering this new compliance program, especially if currently I have a small staff?
  • How can I enforce best practices as designed by the PWG (President’s Working Group) in the US and the Hedge Fund Standards Board (HFSB) in the US in a cost effective solution?

Registered Hedge Fund Firms

  • The costs of a compliance program are increasing significantly as the demands of the regulations increase. What can I do to control this increase or perhaps reduce the overall costs?
  • The manual, time consuming activities in my compliance program are costing my firm a lot of money. What can I do to reduce these costs?
  • Am I in a position with my current approach to respond to all of the regulators' demands at next audit given the increased demand for burden of proof of completing activities?
  • Is our compliance program flexible enough to adapt to a changing business model, changing regulatory environment and changing personnel within the business?
  • Is the company fostering a culture of compliance today?
  • How can we ensure we are practicing effective oversight of the compliance program with the multiple data capture methods, monitoring, and IT solutions that we use today within the compliance program?
  • Are we sure that all required activities are being completed?
  • How can I free up key compliance staff from spending time compiling compliance data rather than analyzing the results to minimize the risks to the firm?
  • How can I enforce best practices as designed by the PWG (President’s Working Group) in the US and the HFSB (Hedge Fund Standards Board) in the US in a cost effective solution?

Our Compliance Solution

MyComplianceOffice Compliance Operations Management System (COMS) is specifically designed to allow Hedge Fund firms to easily build and automate their compliance program.

How does it work?

MyComplianceOffice combines the power and flexibility of Approvals & Affirmations, Questionnaires and Attestations, Task Management & Workflow, Personal Trading, Document Management, and Case Management into a single, integrated, “easy to use” solution. A Dashboard view of the entire compliance program provides quick access to critical data. The combination of these features enables:

  • Automate the many various activities of the compliance program that are currently manual.
  • Capture all information (documents, comments, etc.) associated with the activities.
  • Create a single system of record for all compliance information for audit response.
  • Retrieve data easily for testing or audit purposes.

Long Term Compliance Platform

The flexibility of the tools in our solution allows you to modify policies and procedures as regulations change and as your business model evolves into new markets. Storing all data and documents in one solution ensures your firm is ready for audits, irrespective of changing personnel.

Benefits

  • Provides significant savings on costs of a firms compliance program with automation.
  • Enables easier and more effective oversight and monitoring by compliance personnel.
  • Reduces risk of compliance issues with automation and easier oversight.
  • Ensures compliance with the policies and procedures that are appropriate for the firm.
  • Demonstrates the culture of compliance within the firm to prospective investors.
  • Adapts to changing SEC, FINRA, FSA and other compliance requirements and to the firm’s changing business model.
  • Provides peace of mind that firm has long-term, flexible solution for maintaining the compliance program.
  • The "Software as a Service" (SaaS) solution from MyComplianceOffice has:
    • No system costs.
    • Support is included.
    • Upgrades are provided without additional cost.

View details on our Product Features page > >

Approach for Newly Registering Firm

We can help you with the following:

  1. Decide Approach to Resourcing Compliance Personnel

  2. Define Compliance Program

  3. Conduct Initial Registration Activities

  4. Implement Compliance Program

Services for Registering Firms

In addition to the COMS and Personal Trading System, the MyComplianceOffice team has developed a suite of services for newly registering firms. Please contact our sales department at 1 866 951 2279 for more details on these services.

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