BOSTON, Mass. (July 20, 2016) - IMP Consulting, a leader in OMS implementation and compliance solutions for the asset management industry, today announced the release of CLEAR 360 and CLEAR On-Demand as the latest additions to its growing Compliance Library Enhancement and Audit Review (CLEAR™) consulting service.Read More
Thank you to all who attended the webinar “Trade Compliance Through The Lifecycle of a Trade Building an Environment of Trust Between Portfolio Managers & Compliance”, sponsored by IMP Consulting, FrontLine Compliance, and NSCP.
For those of you who were unable to attend the webinar, following is the recording link to the webinar. A PDF of the PowerPoint presentation is available on our Case Studies & Documents page.Read More
BOSTON, MA – June 2, 2016 – IMP Consulting today announced an educational webinar on compliance best practices titled, “Trade Compliance Through The Lifecycle of a Trade: Building an Environment of Trust Between Portfolio Managers & Compliance.” The webinar, co-hosted by FrontLine Compliance and introduced by the National Society of Compliance Professionals (NSCP), will take place on Tuesday, June 7, 2016 at 2:00 p.m. ET and will include a presentation followed by a question-and-answer session.Read More
Gigi Szekely, IMP Managing Director of Compliance, was quoted in the FundFire article: SEC Targets Complex Asset Mgmt Products in Buildout. Excerpt below:
This greater focus on asset management firms will lead to more examinations managers should be ready for, says Gigi Szeleky, managing director of compliance consultant IMP Consulting. This includes appropriate oversight of third-party compliance operations the SEC has indicated it will focus on in the future.
"If they outsource compliance due to the lack of internal resources, they need to ensure they have the appropriate oversight and due diligence in place for those external resources," she says.Read More
BOSTON, Mass., April 18, 2016 – IMP Consulting, a leader in OMS implementation and compliance solutions for the asset management industry, today announced the launch of its newly redesigned website at http://www.impconsults.com. The website was designed with user-experience at the top of mind so that current and prospective clients can easily find information on IMP’s complete range of solutions for investment management firms.
Key features of the site include a simplified design and navigation, enhanced content, and compatibility across desktop browsers and mobile devices. Visitors to the site also benefit from rich content developed by IMP’s subject matter experts across the areas of implementation, compliance, system selection, managed service providers and more.Read More
Gigi Szekely, IMP's Managing Director of Compliance, was quoted in the Fundfire article: SEC Pushes for Greater Asset Manager Exam Coverage. Excerpt below:
Firms that have not yet undergone an SEC exam need to ensure they have appropriate compliance infrastructure in place, says Gigi Szekely, managing director of compliance at IMP Consulting.
"If they outsource compliance due to the lack of internal resources they need to ensure they have the appropriate oversight and due diligence in place for those external resources," she says.
For larger managers, that most likely would have already faced SEC examinations, future exams will in part depend on the findings of past investigations, she adds.
Click here to view the full FundFire article (Subscription required).
Featured in NSCP Currents
Ashu Sharma's article, Trade Compliance from a Portfolio Manager’s Perspective, was printed in the March issue of NSCP's Currents. Click on the link below for a PDF version of the article.
An interesting dynamic exists between the Compliance team and Portfolio Managers at many investment management rms. Portfolio Managers grumble that the Compliance team is slowing them down with multiple warnings and alerts, whereas Compliance professionals fret when Portfolio Managers insist that Compliance simply “ x it,” regardless of the complexity behind the issues. With few exceptions, this type of environment can o en cause tension between Portfolio Managers and Compliance. Read more....
Gigi Szekely, IMP Managing Director of Compliance, was quoted in the FundFire Alts article: BlueCrest Inquiry Highlights Internal Fund Risk. Excerpt below:
Hedge fund firms should also make sure they have appropriate monitors in place over the funds, and avoid placing staffers in dual roles where their priorities may compete against one another, such as having a trader who also has an administrative job, says Gigi Szekely, managing director of compliance at IMP Consulting. “There needs to be a segregation of responsibilities,” she adds.
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BOSTON, Mass., January 28, 2016 – IMP Consulting, an industry leader in OMS implementation and compliance solutions for the asset management industry, today announced key additions to the senior management team and the expansion across several practice area specialties. The significant growth for IMP reinforces its role as the financial services industry’s go-to experts in trading, compliance and accounting systems for buy-side asset managers and hedge funds.Read More
Ashu Sharma, IMP Senior Manager, was quoted in the FinOps Report article: US Registered Funds: Say Hello to Derivatives Risk Managers. Excerpt below:
The best technology must be coupled with content knowledge, agrees Ashu Sharma, senior manager with IMP Consulting, a Boston-based consultancy specializing in testing compliance and post-trade technology at investment management firms. “Granted, the SEC’s proposed requirements are based heavily on the ability of technology to monitor the amount of trading a firm does in derivatives and make the necessary calculations so that it does not exceed certain thresholds,” he says. “However, the derivatives risk manager will still need to have experience with complex risk metrics.”
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Gigi Szekely, IMP's Managing Director of Compliance, was quoted in the Fundfire article: Wellington Cleared Again in New SEC Trading Probe. It’s the top story in today’s FundFire newsletter. Excerpt below:
Though Wellington does not expect to face any enforcement action as a result of the inquiry, firms undergoing an SEC investigation must typically respond to the agency within a certain time period “to prove that the matter has been resolved or rectified,” says Gigi Szekely, managing director of compliance at IMP Consulting.
“I would say [a response is expected] anywhere between 30 and 90 days, depending on what the situation is. It depends on the complexity or the simplicity [of the matter],” Szekely adds.
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Gigi Szekely's article, Five Questions Fund CCOs Should Include in Their Sub-adviser Due Diligence and Oversight Program, was printed in the December issue of NSCP's Currents. Click the button below for a PDF version of the article.
Asset managers considering outsourcing critical mid- and back-office functions need to make sure they know what they are getting themselves into before taking the plunge. While offloading these operations may promise time and cost savings, the transition does not always go as planned. In fact, a third of outsourcing projects struggle to come in on time and on budget, according to new research.
In total, 32% of asset managers face challenges staying within budgets for outsourcing projects and 35% have trouble meeting time projections, a survey published Wednesday by operational consultant IMPConsulting and asset management conference provider TSAM has found.Read More
The Securities and Exchange Commission’s (SEC) top enforcer has defended the regulator’s actions against chief compliance officers (CCOs) in response to industry concerns that compliance personnel may unfairly fall within the regulator’s crosshairs.
Speaking Wednesday to a trade body of compliance professionals, Andrew Ceresney, director of the SEC’s Division of Enforcement, stressed that the Commission will target enforcement actions against CCOs at asset managers (and other firms that fall under the SEC ’investment advisors’ definition, including wealth managers) in situations where compliance personnel are involved in breaking the law, covering up abuses, or clearly fail in implementing appropriate policies.Read More
Asset and hedge fund managers share how they would change their approach to Managed Service Providers in a joint survey with TSAM
Boston, MA – November 17, 2015 –IMP Consulting today announced results from the company’s joint survey with TSAM: The 2015 Investment Management Outsourcing Survey. The survey revealed information on which systems investment managers were outsourcing; the challenges associated with them; and what they would do differently in the future.Read More
BOSTON, MA – October 30, 2015 - - IMP Consulting today announced that the company will participate and provide its leadership and expertise in compliance at the National Society of Compliance Professionals (NSCP) 2015 Conference. Gigi Szekely, Managing Director, Compliance at IMP, will be joining the panel, Due Diligence of Third Parties from 3:45 PM -5:00 PM on Monday, November 2nd.Read More
Our webinar, Managing Investment Compliance: Best Practices in an Evolving Environment, is now available on-demand! Co-sponsored by NSCP, and featuring expertise from State Street Corporation, this webinar is packed with information for asset managers and asset owners.
Uncontrolled library growth, inconsistent interpretation of mandates, rules that don’t match actual trading activity or regulations, false positives, excessive overrides and data issues are just a few of the reasons that money managers miss violations and risk monetary and reputational loss. Without a rigorous, annual testing of the automated library and supporting data, the results portfolio managers and compliance teams rely upon are statistically likely to harbor error rates of 25% or more.Read More
BOSTON, MA – September 15, 2015 – IMP Consulting today announced an educational webinar on compliance best practices titled, “Managing Investment Compliance: Best Practices in an Evolving Environment.” The webinar, co-hosted by State Street and introduced by the National Society of Compliance Professionals (NSCP), will take place on Wednesday, September 16, 2015 at 4:00 p.m. ET and will include a presentation followed by a question-and-answer session.Read More
“A fund manager might be relying on brand-name technology providers, custodians and fund administrators, but unless its operations staffers are equipped to correctly use the software as well as test applications and connectivity appropriately, they will miss costly glitches,” cautions Gigi Szekely, director of compliance for IMP Consulting, a Boston-based consultancy for asset managers specializing in testing compliance and other post-trade systems. “The asset owner needs to be reassured there is a testing process in place which proves results are accurate, must be ensured that staff are trained in the technology, and should receive reports on any exceptions and material violations to policies.”
Gigi Szekely, IMP's Director of Compliance, shares her expertise in the FinOps Report article Operational Due Diligence: Right Questions, Right Answers.