| The effectiveness of a mock SEC exam is directly related to the capabilities of the consultant conducting the exam. |
The Benefits of an NCA Compliance SEC Mock Exam
Whether you are a new investment advisor or have been previously examined by the SEC, bringing in a former SEC examiner from NCA Compliance to conduct a SEC mock exam (or a state mock exam) can go a long way in preparing your firm for an actual inspection and ensuring you have all of the required books and records. In addition, a mock examination can help uncover deficiencies and issues that you can address ahead of any actual SEC examination and/or referral to the Division of Enforcement. Click here to see whether an SEC mock exam makes sense for your firm.
Hayley Nelson, the principal consultant of NCA Compliance, conducted 50 examinations while she was employed at the SEC as a securities compliance examiner. Over 20% of her examinations were referred to the Division of Enforcement (higher than the average 5-10% referral rate), demonstrating an ability to uncover significant deficiencies and compliance issues. More information about her background and experience can be found here.
How NCA Compliance Can Help
At NCA Compliance, we will simulate an actual SEC or state mock examination. We start off by providing your firm a comprehensive document request list, based off the request lists currently being used by SEC (or state) examination staff. Our mock exams will also generally involve an on-site visit (although this is not required) with interviews and coaching of firm personnel. We will advise you on what you should and shouldn’t do when the SEC or state does arrive. Following the completion of the mock exam, you will receive an exit interview and a report of your preference (verbal, written detail, written summary) regarding any findings during the audit and what corrective actions you can take to address any issues identified.