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Client portal About Us Why Foreside History Executive Management Foreside Bios Locations about us Why Foreside History Executive Management Foreside Bios Locations solutions Solution By Product Compliance Consulting Solutions Broker-Dealer Consulting Broker-Dealer + Investment Advisor Registration FINOP + Accounting Services FINRA + SEC Examinations Investment Advisor Consulting Marketing Material Review Consulting NFA Consulting Vendor Selection + Management Website Services Distribution Solutions Broker-Dealer Chaperoning Capital Connections DTCC/NSCC Fund Sponsorship Legal Underwriting + Placement Agent Services Marketing Material Review Consulting Private Label Broker-Dealer Offering Registered Representative Licensing Technology Solutions Registered Fund Solutions Capital Connections ETF Solutions Fund Officer Services Legal Underwriting + Placement Agent Services Private Label Broker-Dealer Offering Registered Representative Licensing Vendor Selection + Management Website Services Solution By Entity Asset Manager Bank/TPA Broker-Dealer Commodity Pool Operator ETF Sponsor Mutual Fund Non-U.S. Asset Managers Non-U.S. Broker-Dealers Private Fund (including hedge funds, private equity funds) Registered Investment Advisor Third-Party Marketer solutions Solution By Product Compliance Consulting Solutions Broker-Dealer Consulting Broker-Dealer + Investment Advisor Registration FINOP + Accounting Services FINRA + SEC Examinations Investment Advisor Consulting Marketing Material Review Consulting NFA Consulting Vendor Selection + Management Website Services Distribution Solutions Broker-Dealer Chaperoning Capital Connections DTCC/NSCC Fund Sponsorship Legal Underwriting + Placement Agent Services Marketing Material Review Consulting Private Label Broker-Dealer Offering Registered Representative Licensing Technology Solutions Registered Fund Solutions Capital Connections ETF Solutions Fund Officer Services Legal Underwriting + Placement Agent Services Private Label Broker-Dealer Offering Registered Representative Licensing Vendor Selection + Management Website Services Solution By Entity Asset Manager Bank/TPA Broker-Dealer Commodity Pool Operator ETF Sponsor Mutual Fund Non-U.S. Asset Managers Non-U.S. Broker-Dealers Private Fund (including hedge funds, private equity funds) Registered Investment Advisor Third-Party Marketer Case Studies knowledge center contact us client portal COVID-19 Response Email Us 1-866-251-6920 Compliance isn't a headwind Foreside helps you navigate growth and risk - simultaneously Configurable Solutions Trusted by the Industry Since 2005 $ 1 Trillion Assets Over 30 Services Chart your course Strive for better - always. In today’s financial landscape, firms that don’t innovate risk becoming obsolete. We work with institutions to streamline governance, risk, compliance and distribution – and prepare firms for the future of asset management. Mitigate regulatory risk compliantly Innovate market access Expand business practices Improve Learn More About Our Consulting Services Configurable solutions Every firm is unique – but the pain points can be quite similar. Foreside’s suite of technology and consulting services can be combined and modified to address issues and drive operational efficiency. See how industry peers combine offerings to address business needs. registered product compliance & distribution Compliance Programs for RIAs and Broker-Dealers ETF solutions Global Gateway Platform Alternative Managers Technology Suite Contact us for a custom suite of solutions, or explore our full capabilities. learn more Foreside at the helm CASE STUDY: FORESIDE LETTER At Foreside, we see regulation not as an obstacle, but as a catalyst for innovation. The Brief: Over the course of the past year, Foreside recognized time and again that mutual funds were looking for a flexible way to advertise their new funds using pre-inception performance (PIP) data (already permitted for ETFs). With a higher demand for transparency, institutional investors have been requesting more pre-inception data. FINRA regulations, however, have prohibited it. The Approach: : Foreside worked with FINRA, as well as counsel for one of our clients, to request new interpretive guidance that would permit passively managed open-end mutual funds to use PIP data under conditions similar to those required for ETFs. By leveraging relationships with our regulators, Foreside recognized this as an opportunity to innovate and shift the regulatory requirements rather than telling our clients “no, it can’t be done.” The Result: After working closely with FINRA and our client’s counsel on the issue, Foreside successfully obtained an Interpretive Letter in January 2019 (now referred to as the Foreside Letter) permitting the use of PIP data in institutional communications of index based open-end investment companies that are distributed solely to institutional investors. This has created a completely new way for mutual funds to market their funds, bringing more transparency to investors. CASE STUDY: GATEWAY TO THE U.S. Finding the right entry point to the U.S. for your Firm. The Brief: An international asset manager based in London that has been in business for over 80 years was looking to do business in the U.S. Their existing client base included both individual and institutional clients, and they managed numerous funds for investors primarily in Asia and Europe. The manager saw an opportunity with certain U.S. institutional investors and needed a solution to capitalize on that opportunity. The Approach: Initially, Foreside provided chaperoning services to the client, through an affiliated Foreside broker-dealer, enabling the client’s non-U.S. based sales people to enter the U.S. and meet with institutional investors. The client then hired a small sales team in the U.S. Since chaperoning services are only available to sales people outside the U.S., the sales team could not rely on the chaperoning solution. Therefore, in addition to the chaperoning for non-U.S. sales persons, Foreside was able to offer registered representative services, associating the client’s U.S. sales team with a Foreside broker-dealer thereby enabling the sales team to market their products in the U.S. The Result: The manager now has an active U.S. sales team of over 6 sales persons and is successfully raising assets in the U.S. Based on that success, the manager has begun looking at other opportunities in the U.S., including segregated mandates and perhaps a registered ’40 Act Fund. Foreside can assist with both opportunities, including registration with the SEC, compliance consulting support and our suite of services for ’40 Act Funds. CASE STUDY: INVESTMENT ADVISOR CONSULTING Foreside helps clients grow with regulatory confidence. The Brief: A Registered Investment Advisor and their CCO approached Foreside for compliance support. The firm had had successful growth for over five years, but the CCO was also a Portfolio Manager and the firm was looking for added support for their compliance program. The Approach: After being hired, Foreside thoroughly examined the firm’s existing compliance program, including its policies and procedures, risk assessment, client agreements, Form ADV, and website. Foreside found that the policies and procedures, the backbone of a firm’s compliance program, were simply a modified version of boilerplate policies, and many of the policies adopted by the firm were not applicable to the firm’s business. In addition, Foreside found that the firm’s employees, including its CCO, were not aware of some of the requirements written into the firm’s compliance manual. Therefore, not only did the firm not have evidence of compliance with those policies, employees were simply not following them. Foreside further found that some policies were inadequate to meet regulatory requirements based on the firm’s business model. Foreside also found deficiencies in the firm’s client agreements, AD...