One of the world’s largest global hedge funds, Bridgewater Associates, has taken an unusual step to address their operational risk. They have hired a second fund administrator, Northern Trust, to verify the accuracy of their primary fund administrator’s work on an ongoing basis. While Bridgewater’s move is unusual and much too expensive for smaller advisers, it does show just how much pressure there is on advisers to validate and supervise all areas of operations.
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Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.