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Navigating the evolving regulatory maze: compliance management in a changing world

Brian Fahey (Brian Fahey is Chief Executive Officer, TerraNua, New York, New York, USA)
Marc Rinaldi (Chief Executive Officer, O'Connor Davies Financial Services, LLC, Harrison, New York, USA)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 13 June 2008

Abstract

Purpose

The purpose of this paper is to assist investment company managers in proactively navigating the risky and ever‐changing market and regulatory environment and to provide an outline for a flexible and robust risk‐based compliance management methodology.

Design/methodology/approach

The paper makes recommendations on: becoming familiar with best practices in internal controls and regulatory trends, reassessing compliance management goals and objectives, identifying risk scenarios and related compliance events, designing control systems, updating compliance policies and procedures, and conducting periodic reviews of compliance management systems.

Findings

The paper reveals that compliance risks have attained a new level of visibility. To minimize potential hazards, current and evolving risks must be identified, documented and effectively managed by investment firms, regulators and legislators.

Originality/value

The paper provides practical advice by a compliance management systems provider and a consultant specializing in compliance and risk‐based due diligence consulting.

Keywords

Citation

Fahey, B. and Rinaldi, M. (2008), "Navigating the evolving regulatory maze: compliance management in a changing world", Journal of Investment Compliance, Vol. 9 No. 2, pp. 40-44. https://doi.org/10.1108/15285810810886171

Publisher

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Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited