Last week, the U.S. Securities and Exchange Commission (“SEC”) announced that Marc Wyatt will succeed Andrew Bowden as the Acting Director of the Office of Compliance Inspections and Examinations (“OCIE”).
Although Wyatt has been with the SEC since 2012, for the last six months he has served as the Deputy Director of OCIE and “has led the Technology Controls Program.” Wyatt is well-versed in both the Private Fund and Hedge Fund arenas, so another OCIE role is serving as the national co-coordinator of OCIE’s Private Fund Specialized Working Group. He also recently participated in the creation of OCIE’s Private Fund Examination Unit.
With the SEC extensively focusing on technology, we believe firms should make it a priority to review their current technology systems to determine if any updates or additions are necessary. It’s important to have effective technology in place to protect both your firm and your clients, especially in areas covering client and employee trading, compliance, regulatory filings, and anti-money laundering. Core Compliance can assist your firm with implementing technology solutions to manage and monitor these areas and more, which in turn provide operational efficiencies and mitigation of regulatory risks.
For more information on this and other related subjects, please contact us at (619) 278-0020 to schedule a consultation.