Elizabeth conducted a comprehensive impact assessment for a client's changes to their sweep program, focusing on its compliance with regulatory requirements for its broker-dealer and bank operations. The client had implemented adjustments to their sweep process, transitioning to running the sweep twice a day to enhance efficiency and liquidity management. The sweep leadership team hired Elizabeth to evaluate the project’s impact on key regulatory rules, including SEC Rules 15c3-1 Net Capital, 15c3-3 Customer Protection, and 17a-3 Books and Records.

Elizabeth analyzed how these changes would influence the client’s compliance posture and operational risk. In addition to assessing regulatory impact, Elizabeth delved into the client’s governance process. She observed that the right stakeholders were actively engaged, possessing the necessary understanding and authority to enact changes where needed. This proactive approach guaranteed that governance structures were aligned with project goals and regulatory compliance objectives.

Elizabeth’s efforts assisted her client with navigating its complex regulatory landscape and achieving its compliance objectives effectively. The culmination of this effort was the creation of a comprehensive report. The report detailed the significant work undertaken by the client to ensure ongoing compliance with applicable rules and regulations. It outlined the specific measures implemented as part of the changes to the sweep program and provided evidence of the client’s commitment to maintaining a robust control environment.