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Rating:Toughest Compliance Tasks For Fund Firms Not Rated 2.0 Email Routing List Email & Route  Print Print
Monday, July 26, 2004

Toughest Compliance Tasks For Fund Firms

by: Caitlin  Pickall

With the deadline (October 5, 2004) for implementation of SEC rules requiring compliance policies and procedures fast approaching, which aspects are causing the most headaches at fund firms?

According to PricewaterhouseCoopers Investment Management Industry Group, two areas stick out as the most difficult to deal with: overseeing service provider activity and managing brokerage practices.

"The survey results confirm that service provider and brokerage practice compliance will be the most difficult and complex elements of the compliance program to monitor," said Tony Evangelista, a PricewaterhouseCoopers partner and leader of regulatory compliance practice.

Here's a look at which other areas executives are expecting to be a challenge.

Toughest Compliance Tasks
Percentage of Executives Who Say So
Service Provider Oversight 30%
Securities Trading/Brokerage Practices 28%
Conflicts of Interest/Related Party Transactions 16%
Portfolio Management 9%
Shareholder Servicing/Transaction Processing 9%
Portfolio Valuation/Fund Pricing 8%
Source: PricewaterhouseCoopers Investment Management Industry Group


Decisions on a chief compliance officer are pending at many fund firms. While 70 percent of fund firms have already found one, only 38 percent have board approval.

The PricewaterhouseCoopers survey included more than 200 fund industry executives and was conducted during June 2004.  

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