Whether it is the SEC, FINRA or State regulators performing an audit of the
compliance program, either will ultimately issue a letter of any deficiency
findings of that audit. The response of a firm must be decisive and on point.
The response must provide the regulatory authority a clear understanding of the
corrective measures that the firm will take in the near term and the measures
the firm will take to ensure that the deficiency will not be an issue in the
Not only does the response need to placate the regulator’s concerns, it must
be devised with an eye to the firm’s operations and not be overly burdensome on
the firm. Our professionals specialize in devising corrective measures that make
business sense for the firm and at the same time meet the concerns of the
regulators. For certain issues, the resolution may require some negotiation
with the regulatory body in order to achieve a mutually beneficial solution.
The experience of our professional staff is important for firms in this
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