Governance, Compliance, & Risk Survey

8 Key Questions: How Prepared Is Your Firm?

Please note this is a non-attributable survey. No individual or firm name will be divulged in the survey results.

1. Do you think the current Regulatory Compliance legislation is achieving its intended effect?

Not At AllSomewhatModeratelyMostlyVery MuchDon't Know
 

2. Specifically, please rate the general effectiveness or adequacy of the following regulatory compliance legislation.

Excessive/ Needs major revision/ Not effectiveNeeds significant revisions to be effectiveNeeds some revisions to be effectiveUseful/ Achieves most objectivesWell defined/ Achieves stated purposeDon't know
Dodd Frank
US Patriot Act [Anti-Money Laundering Act (AML) / Know Your Customer Policies(KYC)]
Bank Secrecy Act (BSA)
Sarbanes-Oxley (SoX)
Basel II (Credit, Market & Operational Risk)
Trading Regulations (SEC, FINRA, FSA, NASDAQ, NYSE etc.)

3. Specifically, how effective are your firm's systems, policies, and procedures to meet SEC, FINRA, NASDAQ, NYSE compliance reporting requirements:

Not At AllSomewhatModeratelyMostVeryDon't Know
OATS
Reg SHO
Rule 605
Rule 606
Reg NMS
15c3-5
Large Trader ID
Electronic Blue Sheets (EBS)      
OTS

4. In general, how difficult is it for your firm to meet it’s overall compliance reporting requirements?

Not At AllSomewhatModeratelyMostVeryDon't Know
 

5. How effective would you say the following are in detecting compliance violations?

Not At AllSomewhatModeratelyMostlyVeryDon't Know
Internal Compliance Systems
3rd Party Compliance Systems
Defined Policies and Procedures
Governance and Oversight

6. What is the current mix of internal vs 3rd party software used to address your Compliance needs?

85% Internal/ 15% 3rd Party65% Internal/ 35% 3rd Party50% Internal/ 50% 3rd Party35% Internal/ 65% 3rd Party15% Internal/ 85% 3rd PartyDon't Know
 

7. Is the current Regulatory Compliance environment creating a major financial or resource burden on firms?

Not At AllSomewhatModeratelyMostlyVery MuchDon't Know
 

8. Has your spending on Risk Management and Compliance increased due to the regulatory mandates issued since 2009?

Not At AllSomewhatModeratelyMostlyVery MuchDon't Know
 

Thank you for taking the time to complete this survey. In return for your participation, we will:

  1. Send you a copy of our report “Governance, Compliance, and Risk: How Firms are Coping with Endless and Expensive Regulation: Industry Best Practices"
  2. If interested, facilitate a workshop at your firm to share the industry best practices.
  3. Automatically your name will be entered for a drawing for a free Amazon Kindle.