According to Junxure’s Greg Friedman a SEC audit is all about the data and how to get to it fast, specifically these six:
1. Client lists — current clients, ex-clients, wrap-fee clients, related persons, etc.
2. Contact lists — vendors, advisors to firm, etc.
3. Important dates — account inception date, termination date, contract date, etc.
4. Important account data — discretionary? Managed? Type of Account?
5. Client communication — email, correspondence
6. Demonstrating a “culture of compliance” — recurring actions, action sequences, action templates
Not saying he is wrong, but he is trying to sell CRM software . . .