Regulatory and Compliance Attorney

Opto Investments

Opto Investments

New York, NY, USA
Posted on Sunday, May 14, 2023

Company Overview

We are on a mission to ensure that the financial system is routing money to the best ideas while helping people build and protect their long-term financial health. Our platform empowers financial advisors to learn about, build personalized strategies around, and invest in (previously inaccessible) private investments to help them grow their businesses and improve the outcomes of their clients.

The market for private investments is expected to grow by $2 trillion in the next decade, but remains largely inaccessible to the majority of non-institutional investors. Our platform provides exclusive educational content, personalized guidance, bespoke investment options, and a streamlined investment process to help make these investments more accessible than ever before.

About the Role

Opto Investments is seeking an experienced regulatory and compliance attorney to

to take ownership and oversee all regulatory and compliance matters related to our Investment Adviser and Broker/Dealer operations. Among other things, the successful candidate will be responsible for reviewing all marketing materials, including communications to the general public, shareholder communications, web posts, podcasts, social media posts, marketing decks, due diligence materials, etc. The regulatory and compliance attorney will also ensure that the company is fully compliant with all applicable SEC and FINRA regulations, will marshal the SEC and FINRA exams, and will help keep the firm current and aware of looming regulatory developments. The successful candidate will have experience drafting and enforcing policies and procedures, contract review, and familiarity with private fund formation and offering documents and structures.

Day-to-Day Responsibilities:

  • Review all marketing materials to ensure compliance with applicable regulations and laws
  • Develop and implement effective compliance policies and procedures for marketing and broker dealer operations
  • Conduct regular training sessions and workshops for employees on regulatory and compliance matters
  • Oversee all regulatory and compliance matters related to broker dealer and investment adviser compliance, serve as liaison for SEC and FINRA exams
  • Draft and enforce policies and procedures to ensure compliance with all applicable regulations and laws
  • Review and negotiate contracts, including NDAs, basic contractor agreements, vendor agreements, etc.
  • Maintain all required regulatory forms, including Form PF, Form ADV, and other standard regulatory upkeep
  • Provide legal support on other regulatory and compliance matters as needed
  • Stay up-to-date with all relevant laws and looming and regulations and ensure that the company's policies and procedures remain compliant

Key Responsibilities

  • Maintain in-depth knowledge of the Firm’s business and activities to ensure adequate legal and compliance oversight as the business needs evolve over time; advise senior management and the business managers on emerging legal and compliance issues.
  • Collaborative work with senior management and other key constituencies to train, promote and enhance a culture that encourages ethical conduct and a commitment to compliance with applicable laws and regulations
  • Help lead efforts related to supervisory oversight, training, e-mail surveillance, branch office exams, FINRA licensing and registrations, anti-money laundering supervision, and advertising
  • Implementing and enforcing the Code of Ethics
  • Provide primary oversight and supervision of the Investment Advisers Act of 1940 and any rules adopted by the SEC under the Act, to prevent violations by the firm.
  • Coordinate with the firm’s IT staff to oversee and monitor the effectiveness of cyber-fraud defensive measures.
  • Annually file and amend the firm's ADV to ensure compliance with SEC filing requirements
  • Monitor the effectiveness of established compliance processes and controls across all business lines and recommend and implement enhancements; work in conjunction with department managers to update the Firm’s Written Supervisory Procedures (WSPs) based on new rules and regulations and/or process enhancements and promptly and clearly communicate such changes to affected business units
  • Provide advice on FINRA and SEC rules, regulations and interpretive guidance, as well as applicable internal policies and procedures
  • Assist with managing regulatory exams, investigations and inquiries conducted by FINRA, SEC and state regulators coordinating with regulators, auditors, compliance personnel and each business unit management
  • Assist with the supervision of sales related activities such as filings, RFPs, and certifications or email surveillance
  • Review and approve outside business activities, annual compliance certifications, and personal trading
  • Review marketing and advertising for compliance with applicable FINRA and SEC rules
  • Conduct compliance training, ensuring courses are compatible with applicable regulations
  • Actively manage departmental report(s) and external compliance vendors
  • Provide advice on compliance and legal implications of the firm’s entry to new markets, products and development of new strategies
  • Draft, review and advise on commercial contracts including NDAs, engagement letters, vendor contracts, and consulting agreements
  • Review existing agreements and advise on potential risks, if any, and suggest strategies to mitigate risks
  • Continually assess the inherent risk of the Firm’s business units as well as the effectiveness of mitigating controls to minimize the residual risk of reputational damage, regulatory consequences and other operational risk

Bonus Skills

  • Experience working with external regulatory bodies and responding to regulatory inquiries or investigations
  • Familiarity with technology and its impact on regulatory and compliance matters
  • Experience serving as a CCO
  • Startup experience within a fintech company