As the CCO, you are required to make sure your Advisers and staff know your compliance policies and procedures and are following your rule and the firm’s.
One of the best solutions for this is sending out attestations that your team can review and complete to knowing and understanding the rules and procedures of the firm. In the past, this was traditionally done on an annual basis on or around the annual compliance meeting or another annual event.
However, would it be better if your attestations were done semi-annually or even quarterly? In a perfect world, if sending and collecting attestations were easy, the more times you remind your team, the better. How difficult is it to collect attestations for a 5-person office? Not too hard.
How about a firm with 10 locations with multiple advisers and administrative staff? Without technology, the later choice might be that it is just easier to do it annually.
Our Compliance Portal makes sending and collecting attestations easy. You set your attestation template, chose if you want to send them out Annually, Semi-Annual, Quarterly or even monthly.
Our technology will:
Email your employee when it is time for attestations;
Email the CCO when a submission is complete and ready for review;
Email reminders to forgetful staff weekly or daily after a set period of time;
Update your employee records to show their last attestation submission;
Lather, Rinse, Repeat! Start the process again when they are due next.