This October is the deadline for funds to comply with the Securities and Exchange Commission's new Rule 38a-1, requiring all registered investment companies and investment advisors to designate a chief compliance officer. The new CCO will be empowered with full responsibility and authority to develop, administer and enforce appropriate policies and procedures for the firm. One area that will surely generate significant attention will be an examination of all third-party relationships, including outsourced transfer agency and shareholder servicing functions.

Ultimate Responsibility

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.