Case study

Streamlining SEC Compliance for a New Registered Investment Adviser

A newly launched investment adviser faced the challenge of navigating nuanced U.S. Securities and Exchange Commission (SEC) registration requirements and establishing a robust compliance program to support uncertainties in the first year of operation.

 

The Solution

Petra provided customized SEC registration services, developed a comprehensive compliance manual and code of ethics tailored to their operations, and implemented ongoing compliance monitoring systems to meet regulatory obligations appropriate for a newly launched investment adviser.

 

Key Results

  • Successfully filed the client’s initial Form ADV registration application in 90 days.
  • Established a realistic compliance program aligned with SEC expectations, reducing risk of regulatory deficiencies.
  • Positioned compliance procedures for the scaling of operations.
  • Petra took ownership of certain compliance processes, saving +10 hours of administrative work for the client monthly.

 

Enhancing Compliance Policies for an Exempt Reporting Adviser

An Exempt Reporting Adviser was nearing full registration with the SEC and struggled to understand new and upcoming compliance requirements.

 

The Solution

Petra conducted a full compliance assessment, provided a timeline to ensure proper filing of the Form ADV and updated policies and procedures to accommodate specific requirements for a change in regulatory status. Regular compliance check-ins ensured ongoing adherence to SEC regulations.

 

Key Results

  • Reduced risk of regulatory scrutiny through comprehensive and proactive SEC filings.
  • Ensured that updated compliance policies directly applied to the upcoming new registration status.
  • Petra trained firm employees in the differences between old and new reporting responsibilities.

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