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Vedder Thinking | News Junaid Zubairi Discusses Remote Oversight Hurdles for Advisers and Regulators in Investment News Article

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Shareholder and Chair of the Government Enforcement and Special Investigations group Junaid A. Zubairi recently commented on the problems that remote oversight could pose for regulators and financial advisers due to the COVID-19 pandemic in Investment News. The article notes that over the last few weeks, staff at the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority Inc. (FINRA) have been performing their duties remotely.

Mr. Zubairi, a former senior attorney in the SEC’s Chicago Regional Office notes that without being in the same room as leaders of financial firms, regulators may have difficulty gauging a firm’s compliance efforts. “The intangible of getting the sense of the culture is difficult, if not impossible, to replicate over the phone” he says.

He also added that remote enforcement cases may prove difficult for advisers mounting a defense when they are not across the table from the SEC investigator. “You won’t be able to have the in-person human touch to it.” He continued, “Not having that contact can be a disadvantage to the registrant.”

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Junaid A. Zubairi