They say behind every successful man there is a woman. I say behind every successful woman, there is a hardworking, determined and smart heart and mind. Helane L. Morrison is a very successful woman in the business world. She currently holds different positions in Hall Capital Partners LLC where she joined in 2007. These positions include Managing Director, General Counsel, and Chief Compliance Officer. She also serves as a member of Executive Committee of this firm. It is not easy to find a woman with such credits in the business world. She has also served as the head of the San Francisco Office under the U.S. Securities and Exchange Commission also known as SEC for around 8 years. She was Regional Director and District Administrator tasked with checking on securities enforcement, litigation, and regulatory matters in the extensive northern California region.
Helane Morrison used to previously practice law in San Francisco. Here she honed her career under a law firm known as Howard, Rice, Nemerovski, Canady, Falk & Rabkin for nearly ten years during which she also became a partner. She mainly practiced on business litigation, private securities actions and SEC matters where she acquired a lot of experience that came to help her later in life. Later she moved to private practice. She currently serves as a board member of different organizations. These organizations include Regional Parks Foundation and Hedge Fund Subcommittee of the American Bar Association. She also holds talks on legal issues of affecting compliance issues.
Her career as a compliance officer is what brought her so much fame. Since she was a lawyer, it was easy for her initiate enforcement actions as she understood the “Compliance Rule.” This rule is also known as the 206(4)-7 of the Investment Advisers Act; it states that all registered investment advisers have to adopt and implement all written policies and procedures in order to evade instances of violation of rights and privileges of their clients.
Most enforcement officers view this act as difficult to work with. This is because it prevents most of the compliance officers working for investment firms to do their work as they are supposed to. Most compliance officers feel that the freedom in this act leaves most personnel with a lot of freedom that affects their workmanship. If guidelines were put in place to guide how this sector conducts itself to avert the problems that chief compliance officers may face in future.
Even with guidelines in place, some freedom is due to be left for compliance officers. Those tasked with checking on enforcement should consider how the firm performs investment wise. The risks involved and the impact of risks should be analyzed by the Commission concern. All this should be taken into account in the streamlining of compliance and enforcement industry.