Samuel B. Jones, Jr., CFA, Lion-Tamer for Trillium Asset Management Corporation(A)
Mr. Jones, who is also a member of the CFA Institute Board of Governors, talks about the increasing duties of the compliance function in the investment industry, “All chief compliance officers are going to become lion tamers.”
The new regulations include creating policies and procedures to comply with all federal securities laws, and recording and reviewing the policies annually. Inherent in the mission of Trillium Asset Management, an investment firm devoted exclusively to socially responsible investing, some of the compliance requirements were met before they were required. According to Mr. Jones, “The board chair has always been independent of the firm, and proxy voting is transparent.”
Chief Compliance Officers are taking on increased responsibility to ensure their firm is meeting the new SEC regulations, and creating a culture of compliance is at the top of their list. At Trillium Asset Management, we’re thinking of adding “Lion-Tamer” to Mr. Jones’ title. He certainly has done a commendable job staying ahead of the SEC regulations.