A top-ranking compliance technology provider aims to inform Registered Investment Advisers (RIAs) about the benefits of using automation for regulatory compliance in its latest in-depth article.
-- RIA Compliance Technology has released the latest in a series of informative articles on regulatory compliance software and its benefits to RIAs. The in-depth piece details the challenges presented by a manual approach to compliance and how automation addresses them before introducing its own solutions.
The article can be accessed in full at https://riacomptech.com/streamlining-marketing-compliance-with-automation/
The company said that it released "Streamlining Marketing Compliance with Automation" to familiarize RIAs who are still manually performing compliance, or those looking to digitize, with the automated options available to them and their advantages. "The integration of AI and advanced technology redefines marketing compliance, transforming it from a challenge into a strategic advantage," the author wrote.
December 2020 saw a major overhaul of the Securities and Exchange Commission's (SEC) rules governing investment adviser marketing under the Investment Advisers Act of 1940. Part of the amendments include prohibitions on certain claims unless they meet specific criteria, as well as the requirement to maintain records of all advertisements and supporting documents to substantiate claims made in said ads.
Adhering to the revised rules using a manual approach is doable, however, RIA Compliance Technology highlighted its difficulty and risks. "Reviewing each marketing asset requires significant time and effort. The pressure is increased when an RIA manages multiple marketing campaigns," the author said, adding that it may also increase the risk of human error.
With regard to recordkeeping, RIA Compliance Technology pointed out the challenge of storing volumes of materials for at least five years and the usual lack of adequate security measures.
The company's recommendation to address these challenges is digitization through AI-powered software purpose-designed to handle RIA compliance requirements.
The article outlines a number of advantages of such a move, primarily the benefits of automating review workflows. "We can automatically update client solutions with the latest regulations, monitor the approval of marketing literature for audit purposes, and ensure that all necessary disclosures and disclaimers are included," it stated.
Other features of automated systems include compliance calendars that remind users of filing dates and deadlines to ensure adherence and avoid hefty fines. Furthermore, these systems can capture all transactions related to marketing and advertising, cutting short the time needed to prepare for regulatory audits.
RIA Compliance Technology is the developer of such a solution and has been serving the RIA sector since 2017. Its solutions are known for their customization, simplicity through an easy-to-use dashboard, and security features compliant with the General Data Protection Regulation and California Consumer Privacy Act.
Interested advisers who want to see the software in action may request a demo at https://riacomptech.com/
Contact Info:
Name: Blake Bjordahl
Email: Send Email
Organization: RIA Compliance Technology
Address: 10031 E Dynamite Blvd Suite 240, Scottsdale, AZ 85262, United States
Website: https://riacomptech.com/
Source: NewsNetwork
Release ID: 89160244
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