Regulatory Clarity

Every morning, Regulatory Clarity will review all the updates to Form ADV on the SEC’s website. Our system reviews the entire Form ADV filing including every answer to every question in every section, all the schedules to the filing, as well as the Disclosure Reporting Pages (DRPs) and the signature page. In our daily email we will identify the managers that make changes, flag the changes and then sort the changes into one of three categories:

• Green Flags: Normal business changes that are consistent with the manager’s conditions
• Yellow Flags: Changes that allocators should be aware of and other less common updates
• Red Flags: Business changes that are unusual, or changes that signal significant business or investment risks

In addition to flagging the changes, we will explain why the issue is important, or perhaps critical. The Form ADV filing can be confusing and opaque to allocators that do not understand every change or why the change is signaling inconsistencies in the manager’s filing. Regulatory Clarity flags the changes and then it explains why the issues may be important to your firm. Regulatory Clarity will provide allocators with actionable information and not bury them with confusing data.

Regulatory Clarity was designed to meet the unique needs of fund allocators. Our system helps analysts and portfolio managers keep track of important changes, and who within your organization is following up with the fund manager through the following:

• Daily reports: These reports are broken down by fund analyst and by flagging type. Regulatory Clarity makes it easy for allocators to keep track of fund updates and follow-ups.
• Records: Regulatory Clarity allows users to add comments and notes to the Flagging Alert providing allocators with a complete timestamped audit trail.
• Review: Fund Allocators can use Regulatory Clarity’s Workflow Process to evidence Fiduciary Review of their fund investments.
• Export information: Regulatory Clarity provides an option to export all or selected alerts of interest which may be maintained for internal record keeping.

Regulatory Clarity was designed to make the complex Form ADV data easy to access and easy to understand:

• Historic information: Regulatory Clarity allows users to quickly see previous filings and to compare prior Form ADV filings.
• Firm overview: We have developed our unique Firm Overview Report which summarizes the most commonly accessed parts of the Form ADV into a 2-3-page document. The Firm Overview includes all the information regarding the firm’s RAUM, headcount, fund information, firm ownership, and any critical DRP reports.  The Overview report can be easily exported into a pdf document.
• Easy to read form ADV filings: The IAPD system is not user friendly and searching for important data is cumbersome. Additionally, the Form ADV printouts are hard to read and interpret. Regulatory Clarity allows for reading and printing clean, clear and precise reports.