Regulatory Compliance and the role of a CCO

Lynn Corthell |

Many of our long-time clients may be familiar with my role as Chief Compliance Officer at Wooster Corthell. In this, our first Compliance blog post, you will get a peek inside the world of Regulatory Compliance. 

As the Chief Compliance Officer (CCO), I am responsible for ensuring that our firm complies with the rules and regulations that apply to our business.

Compliance is not only a legal obligation, but also a way of demonstrating our commitment to integrity, professionalism, and client service.

Our main regulator is the Securities and Exchange Commission, as we are an SEC-Registered Investment Advisor. What does this mean for us? It means that we are required to adopt and implement written policies and procedures that are reasonably designed to prevent violations of the federal securities laws. We review them annually for their adequacy and effectiveness. It also means we are required to keep accurate and complete records of our business activities, and to cooperate with any examinations or inquiries from the regulators.

As the CCO, I oversee the development and implementation of our compliance program. Working closely with the Senior Management and our staff, we foster a culture of compliance within our firm. Our Compliance Team provides training and education to staff members on compliance topics such as ethics, conflicts of interest, insider trading, privacy, and cybersecurity. We also monitor and test our compliance policies and procedures to identify and address any gaps or weaknesses. Any compliance issues or incidents are reported to management so that corrective action can be taken, if warranted.

My role as the CCO is to add value to our firm and our clients by promoting a culture of Compliance. With a robust compliance program, we can enhance our operational efficiency, competitive advantage, and most importantly client satisfaction. We view Compliance as an opportunity to demonstrate our excellence and professionalism.

I hope this blog post gives you a better understanding of what I do as the CCO of our firm. If you have any questions or comments, please feel free to contact me. Thank you for your trust and confidence in Wooster Corthell.

Lynn Corthell, CCO