February 19, 2017

Insurance Companies

Insurance companies know regulatory complexity.  State insurance departments — both in their home states and in every state in which they do business — have distinct requirements.  The common denominator is the need for an effective approach to compliance and risk management that satisfies both their clientele and the various regulators.

We recognize that the regulatory and compliance challenges facing life insurance companies and their agents have increased and intensified dramatically in recent years.

For example, insurance companies that have broker-dealer and/or investment adviser affiliates, and their agents who may also be Registered Representatives and/or Investment Adviser Representatives, face multiple layers of regulatory scrutiny from the SEC, state securities departments, FINRA, securities exchanges, and possibly even the CFTC.

The SEC-FINRA COMPLIANCE Consulting Group offers a comprehensive array of traditional compliance products and services, such as drafting policies and procedures and conducting mock audits and branch office examinations.  But we offer much more — we assist our clients in making informed choices about compliance and risk management strategies and programs.  Choices that are cost-effective and produce good business and compliance results.

In addition, while the final version and ultimate fate of the DOL’s Fiduciary Rule is still to be decided, its emergence has had a staggering impact on the types of products being offered, the manner in which business is to be conducted, and the anticipated cost of compliance, operations, and technology.

Moreover, cybersecurity continues to pose a critical and potentially disastrous operational and economic risk to insurance companies and their customers.  The SEC and FINRA have been joined by the National Association of Insurance Commissioners in demanding the design and implementation of robust cybersecurity protection and training programs and support services and the comprehensive testing and verification of those programs and services.

The SEC-FINRA COMPLIANCE Consulting Group offers a comprehensive array of both traditional and innovative compliance products and consulting services, such as drafting policies and procedures designed to, among other things, strengthen corporate governance and the firm’s “culture of compliance,” harmonize cybersecurity and consumer data privacy, and focus on customer protection.  Our experienced former regulators, senior legal and compliance officers, and successful business executives also assess organizational operations, perform mock audits, and conduct testing and verification.

But we offer much more — we assist our clients in making informed choices about compliance and risk management strategies and programs.  Choices that are cost effective and produce good business and compliance results.

The SEC-FINRA COMPLIANCE Consulting Group has offices in the New York metropolitan area and Florida and Consultants located throughout the United States.  For more information on the types of compliance, regulatory and risk management products and consulting services we provide and how we can be of assistance to you and your firm, please contact us today, either by telephone (800-SEC-9906) or email, for a free consultation.