Aspect Conducts Surveillance and Testing to Maximize Audit Preparedness

Regulatory examinations are inevitable and the examiners have increasingly sophisticated tools at their disposal. Our team takes audit preparedness seriously as we understand the impact that both the audit process and result can have on you from many different perspectives. To mitigate these potential issues, we implement systems of surveillance and periodic testing with the goal of identifying and reducing risk while minimizing the burden on your staff.

To ensure that your procedures are up to date on best practices and being implemented appropriately so that standards of conduct are not violated, Aspect will:

  • Assist with surveillance of employee activities related to investments/trading or private securities transactions (PSTs), gifts and entertainment, political contributions, outside business activities (OBAs), and other potential conflicts of interest.
  • Conduct an annual review of policies and procedures required by state rules, Rule 206(4)-7 of the Investment Advisers Act, FINRA Rule 3120/3130, or NFA Self-Examination.
  • At your discretion, we can conduct a mock regulatory examination, which is intended to mimic an audit that you would receive from your current regulator.

When the time comes for your examination our team will assist from start to finish, including interview preparation, on-site interview presence, and drafting of all correspondence with regulators. At this point you should feel confident that your books and records are in order, your procedures are sufficient and practical, and that there are no surprises waiting for you.