Here are some key quotes from my latest podcast with Fizza Khan, Founder and CEO of Silver Regulatory Associates:

“The biggest thing from a compliance standpoint is how do you manage direct supervisory oversight over your team and over your firm to ensure that policies and procedures are actually being adhered to.”

“Right now we’re in a space where managers were informing their investors, even maybe certain of their critical third-party service providers about the institution of their business continuity plan. But they should be doing the reverse, also.”

“I think the biggest challenge [of running a business} is with respect to understanding the delegation of responsibilities. As a business owner and a founder, you cannot do everything. It’s just next to impossible. Nor do you have the expertise to do everything.”

“I personally am in a position at this point in time and in the foreseeable next five years, where I do want to keep the firm in a boutique model. I think the client benefits from that because they get direct one on one consistent team interaction.”

“I think primarily, the biggest misconception is that if you already have an internal team in place, you do not need a compliance consultant. I think that the benefit of a compliance consultant can do for a group that already has compliance infrastructure in place is to provide that level of independent review.”

“So ESG is actually paramount right now in light of COVID. Because not only is there climate change, but you need to ensure that there’s social governance matters that are being addressed.”

“I think there is going to be a lot more electronic communication by way of video chatting. I think the idea of coming on site will somewhat change as a result of our now working remotely. But I don’t think what will change is the quality of service.”