FREE TOOL: Statement of Professional Standards


When one of our clients insourced their compliance function, they had an 'ah-ha!' moment. They realized that their personal financial information - all their brokerage accounts, political contributions, and outside business activities - would be in the hands of a colleague.

Turns out, it was an uncomfortable feeling. 

Compliance professionals need access to extraordinarily confidential personal information about employees in order to do their jobs and to comply with the requirements of the Investment Advisers Act of 1940.  However, not all compliance professionals have had the same type of training on how to hold information in confidence.

Our client's newly-assigned Chief Compliance Officer had a deep sense of personal integrity and understanding of the confidentiality requirements, especially with regard to personal investment information, and sees it as part of the job. Despite that, employees expressed a high level of discomfort with a colleague have access to personal investment information. 

We've found that employees of investment advisers understand the need to provide personal information, but appreciate knowing how the compliance department staff is trained to manage confidential information - and that it is not taken for granted. 

Toward that end, we provided specialized training to the Chief Compliance Officer and provided this written acknowledgment of professional standards.  It serves as a clear communication of important standards of care, as a reminder of the importance of confidentiality. 

Download your copy today.  If you'd like more information on how to use it, visit our consultation page to connect.