Passing Audits with Loffa

Don’t Forget...

There are things that you face as a company and it is important to not lose sight of these things. The SEC does fine companies for failing audits and this can severely impact a firm’s business. Especially now that the vaccine is here and will be open to the public, the SEC is not going to be as accommodating to your remote work needs and will not be as lenient as they may have been during the last few months. Passing an audit should be of the utmost importance for your firm and you should be taking steps to ensure that you are not violating any policies.

SEC Violations

The SEC website lists common violations that may lead to SEC investigations:

  • Misrepresentation or omission of important information about securities

  • Manipulating the market prices of securities

  • Stealing customers' funds or securities

  • Violating broker-dealers' responsibility to treat customers fairly

  • Insider trading (violating a trust relationship by trading on material, non-public information about a security)

  • Selling unregistered securities

“How Investigations Work.” SEC Emblem, 25 Apr. 2013,

Other frequent SEC violations include:

  • Lack of supervisory oversight

  • Lack of documented procedure

  • Violating SEC Rule 17a-3 and 17a-4 (especially prominent beginning in 2021 as firms are not storing information correctly in a WORM environment)

Loffa Helps to Pass Audits

Working with Loffa not only gets you closer to full compliance, but also provides you with the assurance of security considering that we are a conscious vendor that has worked with the finance industry for years. Loffa is a third-party vendor that has been proven secure time and time again. Loffa has been vetted quarterly by many of the biggest firms in the space in order to help them pass audits. Reach out to us today at if passing audits smoothly and quickly is important to you and your firm.

13 views0 comments

Recent Posts

See All