Mock SEC Review/SEC Preparatory Review

The process of a mock review is very similar to the experience you can expect to have during a regulatory examination. Bates Compliance will request specific documents prior to the onsite portion of the engagement. Once the team is on site, either announced or not, they will work with the senior leadership and the Compliance Department in the same manner as the regulators would. They will request specific items of the Compliance Department, including documents, manuals, client accounts and review items and make notations.

No suggestions are made during a mock review, which is usually requested by the board or management to test how their Compliance Department (including the CCO) would handle an actual review conducted by the regulators. Part of the process is seeing how Firm personnel would fare in their ability to provide the requested documents and their ability to respond to other requests and questioning. During the review, Bates Compliance’s team will conduct mock interviews with key personnel to prepare you for interviews with the regulators. During these reviews, our team of professionals will step in and out of the role of a regulator and coach senior management on how to answer lines of questioning and be better prepared for the interview process. Although we will also be reviewing the Firm’s compliance program, we are as interested in how the department handles the review.