Financial Advisor: What You Personally Have To Know About Regulatory Compliance

Bo HowellLegal Insights

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As a chief compliance officer, the risks of non-compliance only continue to grow. Bill Hortz of the Institute for Innovation Development recently spoke to CCO Technology regarding this trend. His interview with our founder, Bo Howell, on the growing importance of developing a detailed and comprehensive compliance strategy is featured in Financial Advisor magazine.

The trends in compliance enforcement are increasing and can be very costly for firms that are not prepared—not just in monetary fines, but in personal and professional reputation. Regulators—to make their point in as visceral a way as possible—have increasingly been targeting and fining chief compliance officers (CCO) and senior executives directly for non-compliance and lack of proper preparation and diligence. This is especially an issue for small to mid-sized advisory firms where a designated CCO is, in many cases, an executive with multiple job duties. And it’s not just the SEC that is focusing on investment advisors and senior executives as state regulators have been more active in the space as well.  

The Institute for Innovation Development reached out to Institute member Bo Howell of CCO Technology—a FinTech software-as-a-service (SAAS) company focused on supporting small and middle-sized advisory firms with regulatory compliance—to get his practical and engaged perspective on this issue and discuss the growing need for developing a detailed, comprehensive and defendable compliance strategy….

Read the full article on the Financial Advisor Magazine website!

The article has also been published by: NasdaqHarvest Exchange, and the Institute blog.