Greyline has been deemed fit by the SEC to serve as an independent monitor to assess and oversee a firm’s compliance program.
Often times stemming from an SEC examination and/or enforcement action, a monitor is an independent, third-party that assesses and monitors a company’s adherence to the compliance requirements of an agreement that’s designed to reduce the risk of recurrence of the company’s misconduct.
SEC-mandated monitors exist in two forms: an independent compliance consultant and an independent compliance monitor. Greyline is qualified to accept both of these SEC monitorships.
As an SEC-imposed monitor, we can:
- Develop a plan for initial review and continued oversight.
- Create reporting workflows for both the firm and the SEC.
- Conduct SEC-mandated reviews, and prepare written documentation in accordance with applicable timelines.
- Recommend concrete and actionable solutions to address compliance program deficiencies and weaknesses.
- Assist with the implementation of any required program enhancements, and provide ongoing monitorship.
SEC Issues Risk Alert on Principal and Cross Trading
On July 21, 2021, the Securities and Exchange Commission’s Division of Examinations (the “Division”) issued a Risk Alert related to fixed income principal and cross trades deficiencies identified during examinations.
