You’re a compliance professional who knows how to meticulously get the job done. But, in the ever-changing world of compliance, there’s always something new to learn. Between new regulations like the Securities and Exchange Commission’s new Marketing Rule for investment advisers and regulators’ increasing focus on cybersecurity and climate-related regulations, the compliance team at your investment advisory firm has a plethora of demands to meet every day. It can be difficult to keep up with all these changes, especially if regulatory compliance education isn’t being prioritized.
In this blog series, “the pillars of regulatory compliance,” we cover resources you might consider when building (or expanding) your firm’s compliance program. In previous posts, we’ve discussed how to identify when your firm might need a regulatory compliance consultant and the benefits of regulatory compliance technology for advisory firms. Today, we’re focusing on regulatory compliance education: why your investment firm needs compliance education and how it can help your firm avoid violations and remain in compliance with regulations for the long run.
How compliance education can take your investment firm’s compliance program to the next level
An effective and strategic compliance program demands a compliance team which is up to date on the regulations governing your investment advisory firm. To do so, firms must invest in the ongoing education necessary to maintain an appropriate level of compliance awareness and insight. Regulatory compliance education can help your firm:
- Prepare to address the challenges associated with regulatory changes.
To avoid violations, your compliance team must be agile and educated enough to know not only what new regulations apply to them, but how to adapt your existing compliance program to those demands. A good regulatory education teaches compliance professionals what rules apply to their firm AND how to apply best practices to equip their firm with the tools it needs to thrive.
- Prepare to address the challenges associated with regulatory examinations.
Thanks to technology, it’s now easier for regulators to spot gaps in your advisory firm’s compliance program. Plus, with the influx of new regulations, many regulators intend on performing examinations at a higher frequency. An education in regulatory compliance will help your compliance team equip your firm with the tools it needs to meet regulators’ heightened expectations and help your firm avoid compliance violations.
- Keep your team up to date on the latest rules, regulations, best practices and trends.
A quality regulatory compliance education equips your compliance professionals with best practices and trends in the regulatory landscape. This means while other firms might scramble when a new regulation becomes effective, your compliance team can efficiently create policies and procedures to address the new regulation – and harness the latest in compliance automation and technology to do so!
- Certify your professionals to be prepared to meet current industry standards.
Compliance programs, such as the Investment Adviser Certified Compliance Professional (IACCP®) program respond to the growing industry demand for advanced compliance education and nationally recognized professional standards. Certifications like these enhance your compliance professionals’ credibility as experts with credentials which are recognized industrywide.
- Support a strong, effective and efficient regulatory compliance program.
How effective your firm’s compliance is starts with your compliance team. Whether or not your team is thoroughly educated in regulatory compliance can be the difference in determining how efficient your program is.
Compliance education, like any other form of education, is designed to enhance the learners understanding of and insight into a specific topic. By investing in the professionals who lead your investment advisory firm’s strategic regulatory compliance program, you better equip your entire firm to withstand regulatory change and heightened risk.
The COMPLY portfolio of firms offers compliance education solutions which educate your firm’s compliance professionals and equips them with the knowledge and industry best practices to build an effective compliance program at your firm. Think we might be perfect for you? Schedule a demo today