Compliance Perfection Isn’t Realistic. Amen.

spoke at the 2016 FINRA Annual Conference in Washington, DC, on May 23 focusing on the intersection of compliance and commerce. During his speech, he points out passionately that enforcement is just a part, not the whole, of an effective regulatory program. He said:

“While regulators strive to help the industry be perfect, we know that perfection isn’t realistic. And the regulatory structure is not a failure if some enforcement is required. Each day we should count it an equal triumph when an examination or our market surveillance program identifies issues and provides guidance that allows our firms to do the right thing by their clients without the need for an enforcement action.”

We agree wholeheartedly.

Guidance, doing the right thing, understanding the regulations and building solid compliance programs are triumphs not just for the regulated firms, but also for the industry and investors alike. Building strong cultures increases revenue and preserves hard won reputations.


Subscribe to CSS Blog

CSS frequently publishes blog posts which are written by our team from their observations in the field, at conferences and through experiences with compliance professionals. These posts are designed to further knowledge and share industry best practices. Topics run the gamut, including Form ADV, cybersecurity, MiFID II, position limit monitoring, technology challenges and more. Complete and submit the brief form below to receive notifications when we publish new content.

Loading form...

Latest Content

Tips to Prevent an SEC OCIE Investment Adviser Exam from Going Bad

Strategies to employ when an SEC OCIE adviser exam goes bad drew a great crowd at the recent CSS Ascendant Fall Compliance Conference. Proactively pointing an exam in the right direction was a consistent theme, summarized by the familiar refrain: “There is no substitute for preparation.” A few keys to note if you find your … Continued

Giving Voice to Values: A New Approach to Ethics

The “Giving Voice to Values” program grew out of Professor Mary Gentile’s frustration of what was going on in both the financial industry and in higher education. She was frustrated and angry about the poor way that ethics was being taught in universities and applied in real-world scenarios. What developed out of her frustration is … Continued

Tips for Developing a Tailored Private Fund Compliance Calendar

As regulatory concerns proliferate and become more complex, developing and monitoring your “to-do” list becomes of paramount importance.  John Gentile, the Director of Private Fund Manager Services for Compliance Solutions Strategies and Michael Emanuel, a Partner at Stroock & Stroock & Lavan LLP provided attendees of the recent CSS 2019 Fall Conference some insight into … Continued