Compliance in a multi-regulatory environment: An Interview with Lawrence A. Friend, Partner, PricewaterhouseCoopers LLP

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Source: Journal of Investment Compliance, Volume 4, Number 1, 2003 , pp. 18-21(4)

Publisher: Emerald Group Publishing Limited

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Abstract:

The USA Patriot Act, Sarbanes-Oxley, proxy voting disclosure, privacy regulations under Gramm-Leach-Bliley, fair valuation, hedge fund scrutiny, and the list goes on and on. Over the past two years, we have seen the Securities and Exchange Commission launch the most aggressive and far-reaching reform agenda for the investment management industry in its history, and new regulations are sure to follow even as investment managers, fund boards and compliance officers struggle to implement and oversee existing rules. In todayâ–™s dynamic multi-regulatory environment with its heightened level of accountability, the stakes of non-compliance are higher than ever for investment companies. It is essential that they are assured their compliance and inspection procedures are thorough and well-documented to withstand the intense scrutiny of not only the Commission but also of the investing public, which is increasingly litigious.

Keywords: Financial institutions; Investment funds; Investments; Investments; Investors

Document Type: Research article

Publication date: 2003-01-01