Compliance is more than just following rules; it's about managing risks. Compliance protects businesses and customers alike. The ability to adhere to regulations can mean the difference between staying in business and going out of business. As compliance is an ever-evolving and complex field, how can institutions and independent financial advisors adapt their strategies to keep up with changing regulations?
In today’s episode, Craig talks with Stacy Sizemore, Chief Compliance Officer at tru Independence. Stacy has more than 20 years of experience in the financial industry, 12 of which have been in the field of compliance. Her strong background in compliance, regulatory audits, and passion for organization are tremendous assets to tru Independence.
Stacy talks with Craig about the roadmap to achieving compliance, what advisors need to know about SEC audits, and the list of new rules that the SEC will be implementing in the coming months.
[05:36] - "When you (advisors) are leaving one of those big wirehouses, you have this big fear of 'What don't I know, what do I know, what do I need, and how do I protect myself?' because you're walking out of one comfy little place." - Stacy Sizemore
[12:19] - "When you're at a wirehouse, they're having to make their policies based on a large amount of individuals. When you're with an RIA, your own RIA, you make the rules. You're in an independent space, you have to make the decisions." - Stacy Sizemore
[20:16] - "Fearing the SEC, fearing an audit—it's not as bad and daunting as somebody would think. Again, what the SEC is doing is trying to protect the clients, the public." - Stacy Sizemore
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