Financial Services Compliance and Regulation

U.S. Financial Services Compliance and Regulation

Navigate the ever-changing U.S. financial regulatory environment with confidence. Kroll provides unparalleled expertise in SEC, FINRA, NFA and CFTC regulations, helping clients mitigate risks, maintain current compliance programs and confidently overcome regulatory challenges.

Who We Are

Our award-winning regulatory and compliance consulting team brings a wealth of experience from experts within the financial industry, including former regulators, chief compliance officers, attorneys, chief operating officers and fund administrators. Our seasoned team leverages its extensive knowledge and experience in regulatory enforcement and examinations, complex securities litigation, risk management, governance and operations on behalf of our clients.

 

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What We Do

Kroll is a global leader in the financial services industry, distinguished by its specialized team and track record of achieving results for clients in handling complex regulatory investigations and exams, conducting mock exams and providing expert testimony. Whether the need for compliance solutions comes from enforcement, litigation, examination, regulation or new rules, we use our knowledge of regulations, operations, risk management and governance to help clients mitigate the risks of adverse outcomes and provide practical compliance support from registration to ongoing compliance assistance. Our expertise spans navigating the Securities and Exchange Commission (SEC), National Futures Association (NFA), Commodity Futures Trading Commission (CFTC) and Financial Industry Regulatory Authority (FINRA) rules and regulations.

We apply decades of collective experience to help clients prepare for regulatory encounters, enhance compliance programs (including identifying pre-and post-acquisition compliance risks), structuring of tailored risk-mitigation policies and procedures and due diligence for fundraising.

Our tailored solutions include:

  • SEC, FINRA, NFA, CFTC and state registration
  • Registered Investment Adviser (RIA), Broker-Dealer, NFA/CFTC compliance consulting
  • Mock regulatory examination services
  • Readiness for new rules/mandates
  • Enforcement and investigative support
  • Independent assessments
  • Regulatory due diligence
  • Remediation plans and corrective action reviews

Who We Work With

We work with a broad range of organizations throughout the business lifecycle, including:

  • U.S. and global investment advisers
  • Hedge funds
  • Private equity
  • Private credit and real estate funds
  • Broker-dealers
  • Business development companies (BDC)
  • Venture capital funds
  • Wealth managers
  • Boards
  • Securities law practitioners
  • M&A parties
  • Exempt reporting advisers (ERAs)
  • Registered investment companies (RICs)
  • Alternative and traditional asset managers

SEC Registration

Our global compliance team, with expertise across multiple regulators—including the SEC and Financial Conduct Authority (FCA)—guides organizations through the registration process and helps establish comprehensive compliance programs.

  • SEC Registration Process: Kroll assists organizations in understanding and completing SEC registration requirements for RIAs and ERAs, including preparing and submitting necessary forms such as Form ADV Part I, 2A and brochure supplements.
  • Compliance Manual Development: We help create comprehensive compliance manuals and codes of ethics tailored to your organization’s operations. These manuals outline internal policies, procedures and controls to ensure adherence to SEC rules.
  • Compliance Program Development and Ongoing Services: Implementing compliance programs is a cornerstone of Kroll’s services. We collaborate with organizations to develop robust and multifaceted programs that ensure adherence to regulatory standards. Our commitment goes beyond initial program development. We provide continuous support to help organizations maintain and optimize these programs, ensuring they adapt to the ever-changing regulatory environment, tailored to their specific business models.

Investment Adviser Services

With considerable expertise in establishing advisory firms and aiding in initial registrations, our services extend to comprehensive ongoing compliance support for numerous investment advisers and private fund managers globally, ensuring they meet SEC mandates and lower their compliance risks.

Our customized offerings encompass:

  • Ongoing compliance support, including:
    • Review of marketing materials
    • Electronic communication review
    • Personal trade monitoring and Reg-Tech platform administration
    • Expert network chaperoning
    • Annual compliance training
    • Development of policies and procedures
    • Anti-money laundering screening and independent testing
    • Ongoing expert compliance advice and regulatory updates
    • Development of risk matrix and compliance calendar
  • SEC registration
  • Annual compliance review, in accordance with Rules 206(4)-7
  • Compliance program development
  • Regulatory filings: Form ADV, Form PF filings, Section 13, NFA/CFTC

Regulatory Examination Services

Kroll streamlines your regulatory examinations preparedness with a proven, methodical approach, leveraging our experts’ vast industry experience. Our comprehensive mock examination services equip your team with essential guidance. We cover pre-examination preparedness, regulatory encounters in connection with on-site examinations and effective responses to examination and enforcement requests.

Our SEC mock examination services provide:

  • Interview preparation aligned with real SEC inquiries
  • Behavior guidance during examiner visits
  • Review and critique of compliance documentation and testing performed by the adviser
  • Detailed feedback through exit interviews and customized reports upon request

Regulatory Support Services

Our team leverages extensive expertise in regulations, operations, risk management and governance to help clients mitigate the risks of negative outcomes. This includes:

  • FINRA, NFA and SEC mock examinations
  • Enforcement support
  • Independent assessments
  • Readiness for new rules/mandates
  • Expert testimony
  • Regulatory due diligence
  • Remediation plans and corrective action reviews

Broker-Dealer Services

Kroll provides tailored services to assist broker-dealers in meeting regulatory requirements, enhancing compliance programs and navigating the complexities of FINRA rules.

These services cover areas including:

  • New Membership Applications (NMAs)
  • Continuing Membership Applications (CMAs)
  • Materiality Consultations (MatCons)
  • Annual testing per FINRA Rules 3120/3130
  • Independent anti-money laundering (AML) exam

  • Drafting written supervisory procedures (WSP)
  • Annual compliance meeting and Firm Element training
  • Licensing (U4, U5, Form BD)
  • Ongoing expert advice, ensuring firms maintain adherence to FINRA regulations and best practices

CFTC/NFA Services

Kroll’s experts specialize in NFA and CFTC registration, providing ongoing support to ensure your organization remains compliant with their rules and requirements.

These services cover:

  • Ongoing consultations, examination and enforcement support:
    • For firms requiring more in-depth and continuous assistance, comprehensive management programs are available to address ongoing NFA and CFTC compliance needs.
  • Compliance policies and testing:
    • NFA Annual Self Examination and Annual Questionnaire
  • NFA registration
  • Training and education
  • Independent AML exam
  • NFA exam and mock exam support

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From pivotal elections to advances in AI to heightened geopolitical tensions, the events of the past year have only amplified the challenges of fighting financial crime. Based on data from over 600 executives across the globe, our report provides insight to help leaders prepare for what’s next.

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