Given recent securities fraud the Securities and Exchange Commission (SEC) has passed governance that requires all investment advisory firms to have as part of its full time staff a Chief Compliance Officer (CCO). A key point of this ruling is that the CCO carries personal liability for any violation by the firm.

Scenario

A one-man Investment Advisory firm has a secretary and paralegal/sales assistant in the firm. The Owner’s wife manages the books and is designated by default as the Chief Compliance Officer, per SEC rulings. She is now personally liable for firm compliance but has no background in legal compliance.

Cobia Compliance is a knowledge for hire firm to outsource all compliance requirements, ADV (Full Disclosure Documents) preparation, establish a risk matrix with adequate policy and procedures along with specific project management services.

Cobia contacted Immerseme to help develop their entire identity.