Vigilant Compliance | Best Regulatory & Compliance Adviser
Vigilant Compliance’s Chief Operating Officer, Chuck Martin answers the questions in this interview on their win in the Institutional Asset Manager Awards, 2023.
Why do you think you won this award?
With our continued growth in the Institutional Asset Manager space, we believe Vigilant has established a strong brand recognition as a best-in-class Compliance Provider.
Through our high touch, bespoke service model, we provide our clients with Compliance Services that not only meet federal regulations, but also fit within each of our client’s business structure(s). In addition, the consistency and low turnover of our team has been a key differentiator, in comparison to our competitors.
What is the size and scale of your business at the moment?
With collectively over 500+ years of experience at the Director Level, we continue to scale our business by hiring industry veterans and former in-house Chief Compliance Officers with extensive compliance expertise.
Our focus is to provide the ultimate value for fees, and we believe providing an experienced individual to lead that engagement with focused attention creates that value add for our clients.
What trends have you seen over the past year?
As it relates to Compliance trends, we have seen a continued focus by the SEC both in Rulemaking and Enforcement side.
There are over 50+ Rules in the Proposal and Effective stage this year and this was the second year in a row where the 2023 Enforcement Results set near record highs.
A larger utilisation rate of third-party service providers is becoming more prevalent with this increased volume by the SEC, and we believe this trend will continue in 2024.
What plans do you have for growing your business over the coming year?
We plan to grow our business through providing our services at greater efficiency levels while also providing high touch, customised, and bespoke Compliance Solutions to our clients. Additionally, we look to leverage internal technology to support our growth in clients and in staff.
In order to support the needs of our clients, we are continuously monitoring new rules and regulations. It is essential in this current aggressive regulatory environment that we keep up with these new rules and regulations to support the continued growth of our business.
Where do you see the industry going in terms of Compliance over the coming year?
As the SEC recently announced their Enforcement Results for 2023, we anticipate an enhanced focus on the following areas below as it relates to compliance in 2024:
• Private Fund Advisers.
• Electronic Communication Recordkeeping.
• Compliance with the Marketing Rule.
• Cybersecurity and Use of AI.
• Proper disclosure and supervision of conflicts of interest.
Successful compliance relies on a proactive approach that anticipates potential investigative actions and adjusts accordingly. There is simply no sign that the aggressive regulatory agenda pursued so far will be relaxed any time soon.
In such a dynamic regulatory environment, compliance professionals like Vigilant can provide invaluable support to limit the business risks from compliance failures.
