Sadis’ Regulatory and Compliance groups conduct SEC and FINRA mock audits and focused compliance reviews on behalf of our clients. Led by a former SEC Senior Compliance Examiner Dan Viola, these reviews and audits encompass a review of compliance policies and procedures that are required to be maintained by a client under federal and state securities laws. Our team leverages its multi-disciplinary expertise to provide insight into best practices from a compliance, enforcement and business perspective.
Our mock audit examinations replicate the form and substance of a typical regulatory examination. We begin our engagement by sending a comprehensive list of documents to be provided by the client. These document requests focus on all areas of a client’s business and allow us to test many policies and procedures in advance of the mock examination. Once we have reviewed the supplied documents, we visit the client’s offices and make additional document requests, speak extensively with the legal and compliance personnel to better understand the compliance culture and specific firm policies and then interview the key personnel. During the interviews we focus primarily on assessing the quality of the compliance program and employee compliance with the stated policies and procedures.
We continue our extensive testing throughout the visit and pay special attention to the compliance issues which concern the regulators. Over the course of the examination we provide feedback in real time and discuss best practice tips and industry trends, as well as current insights from the regulators. Once the examination is complete we discuss our findings extensively with the clients, make various recommendations, revise various compliance policies and procedures and prepare a written report if requested by the client.
