The Hedge Funds Weblog

FINRA and the SEC have recently issued statements and taken bold steps to put the industry on watch, hedge fund compliance consulting firm, FrontLine Compliance, LLC., reports. FINRA is now being more active with exams, document requests, and specialized investigations – and it is not accepting staffing problems as an excuse from firms unable to respond in a timely fashion.

FINRA's Enforcement chief Susan Merrill stated in a recent speech that, "Scaling back a compliance department doesn't justify not fully cooperating with document requests, even during a challenging economy."

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