More specifically, advisory firms should ensure that outsourced compliance programs are customized for the specific needs of their firms and that strong communication exists with the compliance vendors.
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The Securities and Exchange Commission has issued a warning regarding outsourced compliance programs based on deficiencies that it has uncovered during examinations. So reports a Goodwin Proctor blog.
More specifically, advisory firms should ensure that outsourced compliance programs are customized for the specific needs of their firms and that strong communication exists with the compliance vendors.