Asset management regulatory and compliance services


Asset manager SIFI designation: Enter SEC

- June 2014


EU bonus cap: Restrictions nearly final for asset managers

- March 2014


Nonbank SIFIs: No solace for US asset managers

- February 2014

Nonbank SIFIs: Up next, asset managers

- October 2013

How we can help asset managers

- October 2013

The current regulatory environment has investment management firms grappling with a growing number of requirements and expectations from both regulators and investors. The consequences of non-compliance with those requirements and expectations are regularly in the news and key stakeholders, such as investors, boards of directors, regulators and the public in general, are increasingly questioning the effectiveness of existing compliance programs.

A sound system of compliance controls is essential in protecting your firm from business, regulatory and reputational risks. A strong compliance function will also become a factor of increasing importance which will define and set a firm apart from its competition.

Our asset management regulatory team, a part of our national FS regulatory practice, includes a group of experienced professionals with diverse backgrounds in the asset management industry. With teams located in our New York, Boston, San Francisco, Los Angeles and Washington DC offices, and participation in PwC's broad based global financial services practice, we are able to assist our investment management clients anywhere in the world.

Our team includes:

  • Former SEC examiners and branch chiefs
  • Former Chief Compliance Officers
  • Forensics and investigations specialists
  • Data and systems specialists

Our mission is to assist asset managers in identifying, assessing, and controlling business, operational, and compliance risk in an efficient and cost-effective manner. What sets PwC's investment management regulatory team apart is its commitment to learn and understand the unique operations of each investment management firm and provide tailored controls and solutions for your unique regulatory and compliance issues.

Our services

Among the services we commonly provide our clients are the following:

  • Compliance organization and program assessment
    • Analyzing the compliance organization, infrastructure, monitoring and governance programs. Assisting with potential governance automation, including the elimination of redundant controls


  • Compliance program development and implementation
    • Assisting in the development and implementation of the compliance organization, compliance program and compliance policies and procedures with an emphasis on operations and controls
    • PwC's integrated governance risk and compliance framework helps clients get positive assurance that their policies, procedures and control objectives are testable and control activities and risks are actively managed. Our standardized framework permits traceability from policy to the control tested and also creates a path for future governance automation.


  • Mock inspections
    • Performing mock inspections to assist in preparing for an SEC examination through mock SEC interviews, documentation review and testing by former SEC examiners


  • 206(4)-7 and 38a-1 compliance trust services
    • Testing compliance control objectives and activities defined by management using AICPA's SOP 07-2
    • Issuing attest opinions on the effectiveness of compliance control objectives and activities which can be shared with management and clients


  • Data analysis
    • Designing and performing tests of securities transactions to determine compliance with portfolio management, trading and personal securities policies and procedures


  • Due diligence
    • Performing regulatory compliance due diligence associated with acquisitions of investment management or distribution businesses


  • Investigations and litigation support
    • Investigating facts and analyzing data to quantify exposure, assess vulnerability and formulate strategy to mitigate enforcement and litigation risks


  • Compliance training
    • Advising in the development and delivery of effective compliance training programs