Compliance and Regulatory Consulting
services for the financial services industry
With our award-winning expertise and broad range of services,
we can guide you safely through regulatory change, challenges and
compliance requirements.
Kinetic Partners provided valuable cross-jurisdictional
regulatory support and advice at a critical point in
our launch. They have subsequently become a vital
partner helping us navigate through the myriad of
global regulatory changes and have been able to
provide reassurance to both principals and investors
that our compliance regime is robust.
Chief Operating Officer and Compliance Officer Hedge Fund Manager (multi-funds)
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The financial services industry is subject to increasing scrutiny and oversight, and the financial and reputational cost of making mistakes is growing. Regulatory initiatives impact the industry on a local and international level, requiring both firms to be cognizant of all legislation and initiatives affecting their organizations, as well as establishing and maintaining robust systems and controls, so that regulatory responsibilities are met and risks mitigated. Financial institutions are also examining their business models and undertaking strategic trend analyses to respond effectively to the developments, challenges and opportunities – of which regulation plays a key part.
Duff & Phelps’ Kinetic Partners division is a leading provider of compliance and regulatory consulting services to the financial services industry. Drawn from financial institutions, regulators, government authorities and advisory firms, our multidisciplinary team operates seamlessly across borders to help clients to build, manage and protect their businesses. Based in key financial centers, we are closely connected with regulators and industry associations so that our clients have the best available information on regulatory requirements and trends.
Whatever your organizational size and challenge, our team can assist. Our broad range of services include:
Compliance Consulting – Our dedicated team of compliance and tax specialists offers straightforward and practical advice during the launch phase and will provide assistance throughout the life cycle of your business.
Regulatory Consulting – We provide specialist regulatory consulting services on both a local and global scale to clients across the financial services industry including investment and private banking, asset management, wealth management and brokerage firms.
Risk Consulting and Infrastructure – With market-leading practitioners, systems and processes, we are able to provide a full range of substance and risk services, from risk reporting and analysis, to full Third Party Management Company services.
Regulatory Tax Advisory Services - Our team provides diverse advisory services on areas including start-up structuring, tax compliance, tax implications of restructuring within a regulated environment, and guiding UK individuals and businesses on dealing with HMRC.
Business Services - Our services combine an online, real-time reporting platform with deep financial, operational and regulatory expertise in the investment management industry.
OUR RECENT AWARDS BEST OVERALL ADVISORY FIRM
IN THE US 2014 HFMWeek BEST SEC REGISTRATION TEAM
IN HONG KONG 2014 Acquisition International BEST ASSET MANAGEMENT REGULATORY CONSULTING FIRM IN IRELAND 2014 Acquisition International BEST EUROPEAN REGULATORY
ADVISORY FIRM 2013 HedgeWeek
Serving the financial services industry
Over the past 10 years, Duff & Phelps’ Kinetic Partners division has gained a reputation as an industry leader and trusted advisor. We continue to achieve recognition for our highly valued professionals and service to clients across the financial services industry.
Our team of specialists has extensive experience in working on a local and cross-border basis with clients including fund managers, investment banks, wealth managers, brokers, corporate finance as well as regulatory bodies, recognized investment exchanges and multilateral trading facilities.
Centers of Excellence
Our approach is to pull together key individuals who understand governance, risk, processes, regulations, trading markets, IT infrastructure, and who have also worked in operational control, compliance monitoring and investigatory roles, ensuring that we provide a multi-disciplined team tailored to our clients’ requirements. Our services are then grouped around Centers of Excellence to ensure clients receive the highest level of service and advice.
The powerful combination of our unique industry focus and highly trained professionals allows us to provide tailored advice in our chosen industries. Clients benefit from our multidisciplinary team, all highly regarded within their relevant field and drawn from across the globe, to provide the high quality service demanded by our clients.
Providing a deep pool
of talent, our
team of industry
experts bring
unrivalled experience
and insight to our
clients so that our
advice is tailored and
relevant to specific
requirements.
Hedge fund managers Private equity/ venture capital managersPrivate client/ wealth managers
Corporate
financiers traditional fundsAlternative and
Broker dealers/ institutional and retail
brokers Exchange and MTFs Insurance companies and brokers
Investment and retail banks
Custodians Fiduciaries and trust companies Asset managers
Our clients
Our dedicated team of compliance, tax and accounting experts can offer you practical advice and assistance during the launch phase and throughout the life cycle of your business. Our team’s broad experience includes setting-up firms and assisting them to obtain initial authorization or registration, as well as providing ongoing compliance, tax, financial and business services support to meet regulatory requirements.
Co
mpliance Consu
lting
Registration and authorization
n Consultation on registration and start-up issues n FCA authorization/Article 42 registration n SEC/CFTC/NFA/ SFC/ MAS registration n Drafting and filing of applications/forms n Assistance with IARD filings
n Liaison with regulators
n Ongoing access to experienced registration expertise n Access library of compliance documents
n Diagnostic review of existing programs and policies
Ongoing compliance support
n Compliance manuals
n Compliance infrastructure design and implementation n ICAAP /risk frameworks
n Policies and procedures development
n Regular periodic and thematic compliance reviews n Annual reviews and mock regulatory audits n On-site SEC/CFTC/NFA examination support n On-site FCA/SFC/MAS visit support
n Cross-border assistance
n Preparing and responding to regulatory change n Regulatory updates
n Compliance advice and training n Financial and regulatory reporting
n Compliance controls testing n Employee trading review n Incident management n Remedial projects
Regulated funds services
n Project management of fund set-up n Global fund structuring assistance n Regulatory, compliance and risk services
n UCITS and AIFMD oversight and advisory services n Third Party Management Company services n Money Laundering Reporting Officer n FATCA Responsible Office
n Irish Stock Exchange listing sponsor n UK Facilities Agent
n Cross-border registration management n Financial reporting
n Technology solutions for funds
Regulatory Tax Advisory
n Tax compliance, consulting and advisory n Tax efficient structuring
n Taxation of fee flows n Tax risk and disputes n FATCA and BEPS advisory
Business Services
n Entity incorporation and tax registration n Business modeling with adequacy forecasts n Regulatory financial reporting
n Bookkeeping, management information n HR infrastructure and payroll
n Company secretarial services
Regulatory Consulting
Over the past decade, Duff & Phelps’ Kinetic Partners division has provided specialist regulatory consulting services
on both a local and global scale to clients across the financial services industry including investment and private banking, asset management, wealth management and brokerage firms. We also work closely with a number of regulatory bodies and financial services industry associations throughout the world.
Governance, risk and compliance
n GRC framework and controls reviews, and
process improvements
n Compliance risk assessments n Compliance monitoring n Conflicts of interest n Review of control functions n Approved Persons regime n Risk oversight and reporting
n ICAAP
n Operational and reputational risk n Treating customers fairly
n Project management of complex intiatives n Secondments to regulatory/compliance roles n MAS internal audit
Markets
n Transaction reporting & EMIR n Post-trade reporting
n HFT and algo trading reviews
n Market surveillance, monitoring systems and controls n Best execution
n Trading reviews
n Control room
n Information barriers
n Insider dealing expert witness
Conduct
risk
n Wholesale conduct risk drivers n Retail conduct risk drivers n Management framework n Conduct risk strategy n Conduct risk appetite n Culture and ethics n Product design/sales
n Past business/Suitability reviews n Conduct risk policy and MI
Regulatory commissioned reviews
n SEC/CFTC/NFA/FCA/SFC/MAS mock reviews
and examinations
n S166 Skilled Person reports; Post S166
implementation projects
n Regulatory and court appointed reviews n Monitor appointments
n Past business reviews n Financial crime
n Client Money, Client Assets (CASS) n Transition management
n Transaction reporting
n Governance, systems and controls (SYSC) arrangements n Conduct/Best execution reviews
n Prudential
Financial crime
n Anti-bribery and corruption
n Fraud
n Market abuse
n Anti-money laundering (AML) n Expert witness services n Benchmark investigations n Forensic assistance
Client money/custody
n CASS
n Client Money Return (CMAR) n CASS Resolution Packs
n CF10a and general CASS training n CASS health-check
n Ad hoc CASS troubleshooting
n Operational CASS review and assessment
Due diligence
n Operational due diligence n Regulatory due diligence n M&A due diligence
Nomad reviews
n Independent review of approach,
systems, processes and controls
n Retrospective transactions review n Designing a focused remedial plan
Cybersecurity
n Cybersecurity and IT
infrastructure assessments
n IT and cybersecurity DDQ advice n Regulatory advice and support n Staff IT Acceptable Use policies
and tailoring advice
n Staff cybersecurity training
I’d like to thank you and your team for the hard work
you have done to enable the executive to sign an
attestation in relation to our transaction reporting
systems. We recognize the work was comprehensively
designed and executed to a high standard within
a very aggressive time scale. We are particularly
grateful to the team for the extended length of time
they spent each day on the task and the patience
and professionalism they expressed to all our staff
throughout the process.
European Head of Regulatory Group Global Investment Bank
Kinetic Partners has been our compliance partner
for the past two years and has given structure
to our compliance program and enhanced my
ability to instill a compliance culture in the overall
management of our business. By meeting with us on
a regular basis to review our policies and procedures
and by providing meaningful updates on regulatory
changes such as FATCA and AIFMD, Kinetic Partners
consistently delivers the type of responsive and
helpful service that my firm and I require.
Compliance Officer SEC Registered Hedge Fund
Kinetic Partners provided exceptional support and
guidance when introducing an effective Compliance
Risk Assessment process, which has been used to
focus and drive our compliance framework and
monitoring arrangements. Overall we find Kinetic
Partners are able to provide highly experienced staff
who are pragmatic and able to deliver output of a
very high quality. We would have no hesitation in
recommending them.
Head of Compliance European Investment Bank
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Risk Consulting and Infrastructure
Our expert team of specialists is drawn from all sides of the financial services industry including, risk management, systems design, implementation and monitoring, consulting, tax advisory and fund structuring and regulatory experience. We operate a seamless model that allows us to be flexible, bespoke and proactive whilst building trusted long term partnerships with our clients.
Substance and infrastructure solutions
n Third Party Management Company services n Designated Person services
n Outsourcing of the risk management function n Conducting Officers
n Independent Directorship
Operational effectiveness and
regulatory compliance support
n Review/set-up of the risk management function, policy,
process and procedures
n Optimization of risk management infrastructure n Review/implementation of operational risk framework,
including oversight of delegated activities
Risk modeling services
n UCITS and AIFs, including Hedge Funds, Real Estate,
and Private Equity
n Assistance in defining, measuring and monitoring key
risk analytics and indicators
n Mathematical modeling, risk model design and model
implementation
n Model testing, backtesting and performance
assessment
Model reviews and validation
n Independent validation of risk models n Review of valuation models for a range
of financial instruments
n Review of performance calculation methods n AuM calculation and leverage under AIFMD
Risk reporting services
n VaR analytics, global exposure, stress-testing,
risk attribution, leverage
n Counterparty, concentration, commitment n UCITS Investment compliance reporting n Risk reporting and risk dashboards for AIFMD n Tailored risk reporting approach or Private
Members of our experienced team
Monique Melis
|
Managing Director - Regulatory Consulting
t: +44 20 7862 0837 e: monique.melis@kinetic-partners.comMonique leads the Regulatory Consulting Unit within the Practice. Monique specializes in regulatory advice and, over the last 20 years, has worked with investment firms and asset managers. Monique’s areas of expertise include senior management systems and controls, market monitoring issues, global procedure manuals for large investment firms, regulatory investigations, transaction reporting, expert witness reports and regulatory due diligence. She is also involved in the resolution of regulatory
investigations issues and has on numerous occasions spoken at industry seminars and written articles on regulatory change and transaction reporting.
Monique joined Kinetic Partners from the Cayman Stock Exchange where she was Head of Market Regulation and Business Development. She previously managed the Transaction Monitoring Unit in the Markets and Exchanges Division of the FSA. She transferred to the FSA from the Securities and Futures Authority where she worked in the Surveillance Department.
Julian Korek
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Business Unit Leader
t: +44 20 7862 0802 e: julian.korek@kinetic-partners.comJulian leads Kinetic Partners, the Compliance and Regulatory Consulting Practice within Duff & Phelps. Julian’s main areas of activity are governance and oversight, and operational risk, with particular focus on valuation issues and regulatory distress situations. Julian has undertaken numerous forensic investigations and advised clients around commercial disputes. He is a regular speaker at industry events and has published numerous articles, particularly on risk, governance and valuation.
Julian qualified as a Chartered Accountant in 1982 and is a Fellow of the ICAEW and the Institute of Operational Risk. Julian has over 25 years’ experience in the asset management industry. Prior to co-founding Kinetic Partners in 2005, he was partner in charge of the London office of RSM Robson Rhodes. He formed the Tax Incentivised Savings Association (TISA), the trade organization representing the interests of all ISA managers to the UK regulators and legislators; Julian is a non-Executive Director.
Andrew Shrimpton
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Managing Director - Compliance Consulting
t: +44 20 7862 0856 e: andrew.shrimpton@kinetic-partners.comAndrew leads the Compliance Consulting Unit within the Practice. Andrew has over 20 years’ regulatory and compliance experience in the financial services sector. Andrew was previously responsible for putting in place the FSA (the FCA’s predecessor organization) risk based regime for supervising hedge fund managers and day to day supervision of the largest alternative asset managers including private equity firms.
He was an Executive Director at Goldman Sachs Asset Management before joining the FSA in 1999 to supervise asset managers (including unit trust and private client investment managers) and was appointed the FSA’s first Asset Management Sector Manager in April 2004.
Andrew regularly speaks at industry events and is often interviewed in trade press; he has been interviewed on BBC Newsnight, CNBC and the Today Programme.
Chris Lombardy
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Managing Director - New York
t: +1 646 867 7824 e: chris.lombardy@kinetic-partners.comChris is a Managing Director in our Compliance and Regulatory Consulting Practice in New York. Chris has over 15 years’ experience working within the investment advisory industry in various roles including lawyer, chief compliance officer and consultant. He has worked closely with a number of hedge fund managers in all phases of their business including: formation and structuring, establishing compliance and operations infrastructures, selecting appropriate service providers, identifying and addressing risks and conflicts, performing operational due diligence reviews and preparing for and dealing with regulatory examinations. As an expert in identifying and addressing risks and conflicts of interest, Chris specializes within the investment advisory industry designing policies and procedures for hedge fund, private equity and broker dealer clients.
Nick Inman
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Managing Director - Hong Kong and Singapore
t: +852 2281 0130 e: nick.inman@kinetic-partners.comNick is a Managing Director in our Kinetic Partners’ Compliance and Regulatory Consulting Practice, based in Hong Kong and is responsible for all services in Asia Pacific. He specializes in the provision of ad hoc regulatory advice as well as larger project-based consultancy work including the assessment of firms’ processes and procedures, the identification of any weaknesses and the design of appropriate regulatory and risk management frameworks. Over the last 10 years, he has gained significant experience across multiple jurisdictions and regulatory regimes for a wide variety of firms. Nick has been working with investment banks, brokers, asset managers and custodians, through a mixture of on-going relationships, long term secondments and standalone projects, typically thematic in nature. He has worked on projects across the regulatory spectrum including market conduct and electronic trading reviews, anti-money laundering and financial crime, conduct of business issues, governance and risk management frameworks. Nick also co-led the governance, risk and compliance consulting service offering based in London.
Killian Buckley
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Managing Director - Ireland
t: +353 1 6344 331 e: killian.buckley@kinetic-partners.comKillian is the Managing Director of our Dublin office and is responsible for all services in Ireland. Prior to setting up the Kinetic Partners Dublin office in 2005, Killian held a senior role with Davy Corporate Finance Limited for a number of years. Killian began his career in Investor Relations in Germany before joining AIB Corporate Finance Limited in Ireland. Killian has multi-jurisdictional regulation experience, with particular knowledge of Ireland. A graduate of Trinity College Dublin and the Michael Smurfit Graduate School of Business, Killian is a former Chair of the Irish Funds Industry Association Marketing Committee and sits on its AIFMD, Risk and Conference Working Groups.
Alan Picone
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Managing Director - Risk Consulting and Infrastructure
t: +352 26 10 88 06 31 e: alan.picone@kinetic-partners.comAlan leads the Risk Consulting and Infrastructure Unit within the Practice. He specializes in risk management, a field where he has accumulated cross-sectional experiences as a ‘quant’, asset manager, risk manager, risk consultant or advisory service line leader over the last 15 years. Alan’s command of risk management extends along the full value chain, from qualitative risk management to sophisticated risk modeling. He assists clients in a pragmatic way to address the risk challenges imposed by financial regulation (such as AIFMD, UCITS, Basel III and Solvency) through the supply of practical advice, infrastructure, substance and governance solutions. Alan specifically heads our Third Party Management Company services from Luxembourg, providing full-fledged, turn-key and regulatory compliant solutions for asset managers. Alan joined Kinetic Partners from Deloitte where he led the Financial Risk Management service line. He also previously headed Risk Units in various banking institutions.
About Duff & Phelps’ Kinetic Partners division
As a result of this transaction, Duff & Phelps has created a dedicated Compliance and Regulatory Practice, based on Kinetic Partners’ recognized leadership in providing regulatory consulting and compliance counsel to the financial services industry. Kinetic Partners’ Corporate Recovery, Forensic & Dispute, and Tax businesses will also be aligned with the Duff & Phelps business.
Established in 2005, Kinetic Partners has built a multidisciplinary team of recognized experts drawn from regulators, the financial services industry and leading professional services firms. Through our deep expertise and ‘one team’ global approach, we are uniquely positioned to provide a broad range of services that support clients to build, manage and protect their businesses.
We collaborate across functional and geographic boundaries, deliver cost
effectively and are immersed in the issues which affect our clients. Our reputation is driven by strong relationships with regulators and the industry, the quality of our service and expertise, and the value we provide to clients.
We pride ourselves on the strong reputation we have built and are currently working with over 1,300 clients across our 10 global offices in New York, London, Hong Kong, Cayman Islands, Channels Islands, Chicago, Dublin, Luxembourg, Singapore and Switzerland. Within the Duff & Phelps Corporation, we are part of an expert team of over 2,000 employees across more than 70 offices globally.
Duff & Phelps, the
premier global
valuation and
corporate finance
advisor, acquired
Kinetic Partners in
January 2015.
www.
kinetic-partners
.com
Duff & Phelps’ Kinetic Partners division provides a range of award-winning regulatory, compliance, risk and infrastructure, due diligence, tax and business services to the global financial services industry. Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, dispute and legal management consulting, M&A, restructuring, and compliance and regulatory consulting. The firm’s more than 2,000 employees serve a diverse range of clients from offices around the world. For more information, visit www.duffandphelps.com.
Disclaimer:
This publication is for informational purposes only, and none of Duff & Phelps, Duff & Phelps’ Kinetic Partners division, or their related entities is, by means of this publication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. None of Duff & Phelps, Kinetic Partners, or their related entities shall be responsible for any loss whatsoever sustained by any person who relies on this publication.
