Ever since I founded CCO Tech, we’ve been talking about our proprietary technology and how deeply committed we are to helping you remain independent, protect your reputation, keep your house in order, and achieve peace of mind that your compliance program is buttoned up and exam ready. But we heard from so many of you over the past few months that technology is only part of the solution. Often, you also need a reliable partner, maybe even a compliance steward. Our clients and beta testers have provided great feedback on our system, but they’ve asked for more.
Well, help is here! In order to revolutionize compliance for good, we are announcing today new, expanded compliance services to complement our technology platform.
Many of you want a single vendor that will manage your compliance technology AND offer compliance services that leverage that technology. We hear you, and that’s why we’re pleased to offer this combined solution that is available in three options based on your specific level of need.
Level 1 - Technology Only
This level allows CCOs or their staff to leverage our technology to improve compliance operations and automate processes and procedures.
Level 2 - Technology Plus Project-Based Compliance Services
This level goes beyond automation and provides direct support to CCOs. This offering is ideal for compliance departments that need additional compliance expertise to support projects and other assignments. CCO Tech will upgrade your technology systems and supplement you and your team with our staff and expertise.
Level 3 - Technology Plus Ongoing Compliance Services
This level provides a suite of technology and continuous compliance services to CCOs and their firms. This level is for compliance departments that need to scale their compliance program to support their new or growing business. For one all-inclusive price, CCO Tech will upgrade your technology systems, provide regular compliance support, and make management of your compliance program easier.
You may be wondering why you need compliance support at all. Can’t I do this job myself or won’t the system be smart enough to handle everything I need? Though technology can do more and more, in the complicated world of SEC compliance, it’s not feasible to completely automate. Here is a short list of SEC-mandated obligations you need to keep in mind for your compliance program:
- Monitoring Compliance – CCOs are expected to stay up to date on applicable federal and state laws, rules, and regulations and update their compliance program in response to these changes. Technology can help, but the SEC wants a pilot in the cockpit (and preferably a co-pilot) to review ongoing business activities that occur outside of your technology platform.
- Managing Compliance – We’re not quite ready to turn the entire program over to machines, and you shouldn’t be either. You still need to ensure that good data is flowing into your systems and reasonable reporting is coming out of them. You also need to oversee your vendor (including us), conduct mock reviews, provide annual training t your colleagues, and organizing everything into your annual Rule 206(4)-7 report (P.S. If you are managing your firm’s compliance program and just drew a blank on 206(4)-7, you need to call us.) Plus, someone needs to perform risk assessments, ensure AML compliance (including know-your-customer and customer information protection requirements), onboard new employees, and oversee social media and advertising reviews. (P.P.S. If you rolled your eyes or broke out in a cold sweat because of all those items, call us.)
- Maintaining Operations – A good compliance program is robust, which means it can take whatever mother nature, the government, your family, or the latest episode of GOT throws your way (P.P.P.S. If you don’t know what GOT stands for, definitely call us!) You should have business continuity plans, codes of conduct, and written policies and procedures to ensure compliance is properly codified and kept current as the business grows and as regulations evolve or change
You want to focus your time on your clients and investors and not on the detailed activity of compliance. You also need an operations and compliance infrastructure that is scalable and does not require you to add staff with every new client you win. With our new total solution, we can help you do all of this. Contact us to discuss further. We’d love to show you how we’re revolutionizing compliance for good!