Compliance

Clutch Group assists asset management division of leading global financial institution with SEC-mandated review.

The Challenge

A leading global financial institution was faced with reviewing 1300 domestic and international investment management agreements as part of an SEC-mandated review. The project required the client to interpret the agreements thoroughly, including the non-investment guidelines portion of the agreements for numerous issues.

Our Solution

The financial institution hired Clutch Group to manage and complete the non-investment guidelines portion of the review. Clutch Group assigned a team in Bangalore consisting of a U.S.-licensed project manager, two senior associates and four associates. The team was independently managed by the Clutch Group project manager and had direct, secure access to the client’s systems and confidential information. The team worked directly with the client’s compliance, legal and surveillance officers in Bangalore, New York, and London. Clutch Group’s in-house subject matter expert conducted six weeks of pre-training covering the U.S. securities markets and various financial products, substantially reducing the need for client training. Substantive review began after only 1.5 days of on-site training by the client.

During the engagement, the review team performed numerous complex tasks, including updating over 100 fields per agreement with review comments and references and coordinating a process to conform and standardize legal interpretations across global compliance units. The team completed each of the many deadlines for the project on time and to the client’s satisfaction. Over the course of the project, Clutch Group assumed increasing responsibility for managing the process from end-to-end. Based on the initial success of the review, the five-month review was broadened and extended to nine months.

If you are interested in a more detailed account of this case study or more information about our compliance services, please contact us at contactus@clutchgroup.com.