Hello! The SEC wants your records by tomorrow
One advisor had a day to produce voluminous records. That's the kind of request likely to grow more common as the SEC performs more unscheduled audits
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November 18, 2022 at 2:56 AM
NCS Regulatory Compliance
Consulting Firm
Top Executive: Mark Alcaide, COO/Partner
Bill Winterberg
Advisors without document management and electronic record-keeping systems take note: your practice will come to a halt while you and your staff scramble to produce requested documentation in an audit.
This reason alone should be motivation to purchase a system capable of indexing and filtering captured information (documents, scans, emails, etc.) so requested records, and ONLY those requested, by an auditor can be delivered on encrypted media.
Bill @ <a href="http://fppad.com" rel="nofollow">FPPad.com</a>
Zaheer Master
I completely agree with Bill, he hit the nail right on the head. The burden of managing compliance for advisors is only going to grow with more SEC regulation and more frequent examinations.
If you want to know how our clients handle these surprise examinations without breaking a sweat, see our blog post: http://blog.aisww.com/bid/42927/Document-Management-How-to-Survive-a-Surprise-SEC-Audit
