InvestEdge CTO Jeffrey Cowley discusses some of the current trends in compliance around centralization of activity, outsourcing, and business segmentation. Check out the full discussion courtesy of Craig Iskowitz, Founder & CEO of Ezra Group.
Jeff is a wealth management technology executive at InvestEdge, with 20 years of experience in the financial services industry working closely with HNW & UHNW investment management institutions. Leveraging technology expertise and in-depth knowledge of the investment management process, he provides solutions that address his clients’ critical business issue.
This episode of Wealth Management Today is brought to you by Ezra Group Consulting. If your firm is evaluating new technology or looking to improve your current wealth platform, you need to contact Ezra Group. Don’t spend another day using technology that doesn’t offer an elegant user experience. Your advisors and clients deserve better and you can deliver it to them with the help of Ezra Group.
Topics Covered in this Episode
- Current trends in the compliance business around centralization of activity, outsourcing, and business segmentation [03:48]
- How companies can make sure they maintain standards and are able to answer to regulators when outsourcing more of their compliance [05:50]
- Discussion about quality control or other concepts that they can be brought in from other industries to manage the data being generated and ensure that the information being logged is accurate [09:07]
- Adoption rates of Regulation 9 processes, and how that affects other divisions [13:08]
- The rate of false-positives regarding erroneous triggers [18:37]
- Jeff’s best practices around regulation and oversight processes, and how firms can improve the way they’re handling these processes and procedures [24:22]
- How compliance governance structures are becoming the overall governance structures due to merging investment management with compliance [30:44]
- Does the OCC have the bandwidth to handle the oversight they have taken on? [34:29]
- Discussion around the reasoning for the drastic increase in fines over the last year [38:35]
