NEW YORK, NY--(Marketwire - October 4, 2010) - RIA In A Box and Lexington Compliance, consulting businesses focused exclusively on efficient creation of and compliance issues for investment advisory firms, today announced that the Chief Compliance Examiner for the state of South Dakota, Steve Thomas, has left the state and is joining the firms as a compliance director. For the past eight years Thomas was the top state regulator in South Dakota and will bring his expertise to the SEC and state-registered investment advisor customers at both RIA In A Box and Lexington Compliance.
In his position as the Chief Compliance Examiner for South Dakota, Thomas was responsible for all regulatory and compliance issues for every RIA, IAR, broker/dealers and all issued securities in the state. He reviewed all applications, examinations, and registrations and conducted the state's audits, including overseeing more than 350 compliance examinations. Thomas was also involved with numerous state, regional and national investigations and acted as the liaison between South Dakota and NASAA (North American Securities Administrators Association). In addition, Thomas was heavily involved in training state examiners and auditors from all over the nation.
"We are very happy Steve Thomas can now provide his expertise and insights to our clients at RIA In A Box and Lexington Compliance," said Zachary Gronich, CEO. "His experiences as Chief Compliance Examiner and NASAA liaison provide Steve with a unique viewpoint. He absolutely understands the mindset of state examiners. This experience is invaluable in ensuring that our clients' compliance issues are immediately identified and resolved."
Lexington Compliance, through RIA In A Box, offers post-registration RIAs management assistance with compliance issues, performs mock audits, provides outsourced compliance experts, reviews RIAs' websites and marketing materials, and counsels clients about new compliance requirements. "The new financial regulations coming to bear on RIAs as a result of Congressional legislation mean that compliance scrutiny is more intense than ever before," Gronich said. "Steve Thomas will be instrumental in helping all of our clients to stay on top of the latest rules and regulations."
"I am very excited to perform compliance reviews and work with RIAs to help them understand and meet all the requirements that are expected of them by both the SEC and the individual states," said Thomas. "Having been on the Examiner side, I understand the compliance issues that may arise, and understand what state examiners in every state are looking for when they come in to conduct an audit. It will be great to use this experience and my proactive approach to help Lexington clients."
About RIA In A Box and Lexington Compliance
RIA In A Box is a consulting business aimed at registration and ongoing compliance for registered investment advisory firms at both the state and SEC levels. Since its founding by Zachary Gronich, PFS, in 2005, RIA IN A BOX has helped over 900 advisory firms get registered quickly and correctly the first time. For more information, visit www.riainabox.com.
Lexington Compliance is the compliance and oversight arm of RIA In A Box, providing advice and guidance to established RIAs registered in all 50 states, Washington, D.C., and with the SEC. For more information, visit http://lexcompliance.com.
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