Background An enterprising firm had begun contemplating whether they should form a broker/dealer. They had been working with corporations and various institutions in providing strategic consulting advice on strategic partnerships, mergers and acquisitions, capital raises, and corporate restructurings. The firm wanted to enhance their business by offering private placements and have the opportunity to receive … read more
The Departure of the Chief Compliance Officer Prior to a Regulatory Audit
Background The loss of a key senior professional is significant at any time. The significance is heightened when the departure takes place shortly before a regulatory audit. One company was faced with this situation with the departure of its Chief Compliance Officer within two months of a regulatory audit. Right after the departure of the … read more
The Advisory Firm that Needs Updated Procedures
Background An investment adviser was in the midst of a SEC audit. The audit had been consuming significant amounts of time. It was clear to the firm and the SEC that the investment adviser would need to revise or create new compliance policies and procedures. The Chief Compliance Officer contacted FIC indicating that his firm … read more
The National Speaker and Marketing Company Expanding their Reach
Background A well-known national speaker was seeking to expand the use of his seminars among financial professionals. He had engaged a national marketing company to assist in the design and marketing of his seminar program. The national speaker and marketing company had found over time that a lot of broker/dealers would not permit the use … read more