You are a CCO responsible for completing and filing Form ADV. You hire a compliance consultant to advise you on what information to include. You act in accordance with that advice, but you later find out that the SEC has instituted a proceeding against you and the firm due to the firm’s inadequate disclosures.
- So, what now?
- How do you defend yourself and the firm in this proceeding?
- Is reliance on compliance consultants an available defense?
- Will that succeed?
Who lives, who dies, and who tells your story (as Alexander Hamilton might say)?
Additional contributor to this post:
Brian L. Rubin, brianrubin@eversheds-sutherland.com
