Who We Work With
We work with a broad range of organizations throughout the business lifecycle, including:
U.S. Financial Services Compliance and Regulation
Who We Are
Our award-winning regulatory and compliance consulting team brings a wealth of experience from experts within the financial industry, including former regulators, chief compliance officers, attorneys, chief operating officers and fund administrators. Our seasoned team leverages its extensive knowledge and experience in regulatory enforcement and examinations, complex securities litigation, risk management, governance and operations on behalf of our clients.
Explore U.S. FSCR Services
U.S. and global investment advisers
Hedge funds
Private equity, private credit and real estate funds
Broker-dealers
Business development companies (BDC)
Venture capital funds
Wealth managers
Exempt reporting advisers (ERAs)
Registered investment companies (RICs)
Commodities trading advisors (CTAs)
Alternative and traditional asset managers
Fintech, digital asset service providers, and payment companies
Business development companies (BDC)
Boards
Securities law practitioners
M&A parties
Money Services Business (MSB) and Money Transmission Licensing (MTL)
Kroll supports fintechs, payment companies, digital asset firms, and financial institutions in navigating the complex federal and state regulatory framework governing money services businesses and money transmission. Our team provides strategic, technical, and operational guidance across the full lifecycle—from determining regulatory obligations to managing licensing, examinations, and ongoing compliance.
Our Services
MSB Registration and AML/BSA Program Development
- Assess whether business activities trigger MSB or money transmitter obligations
- Prepare and file federal MSB registration with FinCEN
- Develop and enhance AML/BSA programs, risk assessments, and governance frameworks
- Conduct independent AML/BSA reviews and program testing
State Money Transmission Licensing (MTL)
- Map state licensing requirements based on business model and product flows
- Prepare and manage end to end state licensing applications
- Coordinate regulator communications and respond to follow up requests
- Support license maintenance, renewals, reporting, and change management filings
Regulatory Readiness and Examination Support
- Conduct mock examinations and gap analyses
- Prepare materials and manage responses for federal and state regulatory exams
- Develop and execute remediation plans aligned with regulator expectations
Operational Controls and Technology Enablement
- Draft and refine policies, procedures, and internal controls
- Evaluate and strengthen KYC/CDD, transaction monitoring, and sanctions screening processes
SEC Registration
Our global compliance team, with expertise across multiple regulators—including the SEC and Financial Conduct Authority (FCA)—guides organizations through the registration process and helps establish comprehensive compliance programs.
SEC Registration Process:
Kroll assists organizations in understanding and completing SEC registration requirements for RIAs and ERAs, including preparing and submitting necessary forms such as Form ADV Part I, 2A and brochure supplements.Compliance Manual Development:
We help create comprehensive compliance manuals and codes of ethics tailored to your organization’s operations. These manuals outline internal policies, procedures and controls to ensure adherence to SEC rules.Compliance Program Development and Ongoing Services:
Implementing compliance programs is a cornerstone of Kroll’s services. We collaborate with organizations to develop robust and multifaceted programs that ensure adherence to regulatory standards. Our commitment goes beyond initial program development. We provide continuous support to help organizations maintain and optimize these programs, ensuring they adapt to the ever-changing regulatory environment, tailored to their specific business models.
Investment Adviser Services
With considerable expertise in establishing advisory firms and aiding in initial registrations, our services extend to comprehensive ongoing compliance support for numerous investment advisers and private fund managers globally, ensuring they meet SEC mandates and lower their compliance risks.
Our customized offerings encompass:
Ongoing compliance support, including:
Review of marketing materials
Electronic communication review
Personal trade monitoring and Reg-Tech platform administration
Expert network chaperoning
Annual compliance training
Development of policies and procedures
Anti-money laundering screening and independent testing
Ongoing expert compliance advice and regulatory updates
Development of risk matrix and compliance calendar
SEC registration
Annual compliance review, in accordance with Rules 206(4)-7
Compliance program development
Regulatory filings: Form ADV, Form PF filings, Section 13, NFA/CFTC
Regulatory Examination Services
Kroll streamlines your regulatory examinations preparedness with a proven, methodical approach, leveraging our experts’ vast industry experience. Our comprehensive mock examination services equip your team with essential guidance. We cover pre-examination preparedness, regulatory encounters in connection with on-site examinations and effective responses to examination and enforcement requests.
Our SEC mock examination services provide:
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Interview preparation aligned with real SEC inquiries
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Behavior guidance during examiner visits
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Review and critique of compliance documentation and testing performed by the adviser
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Detailed feedback through exit interviews and customized reports upon request
Regulatory Support Services
Our team leverages extensive expertise in regulations, operations, risk management and governance to help clients mitigate the risks of negative outcomes. This includes:
FINRA, NFA and SEC mock examinations
Enforcement support
Independent assessments
Readiness for new rules/mandates
Expert testimony
Regulatory due diligence
Remediation plans and corrective action reviews
Broker-Dealer Services
Kroll provides tailored services to assist broker-dealers in meeting regulatory requirements, enhancing compliance programs and navigating the complexities of FINRA rules.
These services cover areas including:
New Membership Applications (NMAs)
Continuing Membership Applications (CMAs)
Materiality Consultations (MatCons)
Annual testing per FINRA Rules 3120/3130
Independent anti-money laundering (AML) exam
Drafting written supervisory procedures (WSP)
Annual compliance meeting and Firm Element training
Licensing (U4, U5, Form BD)
Ongoing expert advice, ensuring firms maintain adherence to FINRA regulations and best practices
CFTC/NFA Services
Kroll’s experts specialize in NFA and CFTC registration, providing ongoing support to ensure your organization remains compliant with their rules and requirements.
These services cover:
Ongoing consultations, examination and enforcement support:
- For firms requiring more in-depth and continuous assistance, comprehensive management programs are available to address ongoing NFA and CFTC compliance needs.
Compliance policies and testing:
- NFA Annual Self Examination and Annual Questionnaire
NFA registration
Training and education
Independent AML exam
NFA exam and mock exam support
Kroll's 2025 Financial Crime Report
From pivotal elections to advances in AI to heightened geopolitical tensions, the events of the past year have only amplified the challenges of fighting financial crime. Based on data from over 600 executives across the globe, our report provides insight to help leaders prepare for what’s next.
Stay Ahead with Kroll
Financial Services Compliance and Regulation
In the ever-evolving financial services landscape, Kroll's award-winning team offers comprehensive regulatory and compliance services, guiding clients through registration, licensing, and compliance support to minimize risks and enhance efficiency globally.
Managed Compliance Software
Automate routine compliance tasks and stay ahead of risk with Kroll’s regulatory expertise.
Compliance and Regulation
End-to-end governance, advisory and monitorship solutions to detect, mitigate and remediate security, legal, compliance and regulatory risk.