Q: Why do I need a dedicated regulatory infrastructure tool?
A: Increasingly, investors look at funds to determine sound business practices and transparent record keeping prior to making allocations. With the Madoff scandal and most recently the Galleon insider trading probe, it becomes increasingly important to show this type of infrastructure in order to receive allocations from prospective investors and to retain allocations from existing investors.
Q: I’m registered and I keep records in Outlook and email. Why do I need your system?
A: While the system is certainly a more streamlined and efficient way to store your compliance information than commercial non- compliance related tools, the system also automates many of the compliance tasks that currently take up valuable staff time and pulls them away from work that directly affects your bottom line.
Additionally, C3 creates a virtual regulatory infrastructure allowing you to prove to regulatory entities and your investors that you maintain the SEC recommended “culture of compliance” within your firm.
Q: How will the system help me in an audit?
A: A State or Federal audit is extremely disruptive to your daily business practices and an auditor in your office for an extended period will impact negatively on productivity. It is best to have what the auditors request on hand to minimize disruption. C3 ensures that all possible documents are at your fingertips through its comprehensive document search tools.
Q: I am not registered, why do I need C3?
A: As an entity that takes money from third parties you have fiduciary responsibilities. Just as you’ve spent the time, money and effort to create and execute key documents such as offering memorandums, subscription documents, etc. you need to file them securely and safely in case of investor or regulatory inquiry. The C3 system guarantees that you’ll always have everything on hand.
Q: I am a very small fund and am never going to be registered, why do I need C3?
A: Hopefully, your goals are not to remain small. A cost effective robust regulatory infrastructure will help you grow.
Q: I already have an attorney taking care of my compliance issues, how is C3 different?
A: C3 is not here to replace the valuable advice you receive from your attorney. We are here to provide essential record keeping and document routing tools and to give you assistance in maintaining that infrastructure. Our role is to help you implement the structure that your attorney has developed for you.
Q: I’m an existing fund with several years of records. How do I get my files uploaded on C3?
A: We will take your digital files and upload them for you. This way you’ll be able to use the system Day One, without any unnecessary delays.