The Point Man
Regulatory Response

Client
F100 Financial Services Company
Axiom Team
- Kannan Menon, Team Leader (Before Axiom: Commerzbank; Société Générale; Partner, Skadden Arps) - 5 Axiom Attorneys, Experience ranging from alternative investments and derivates to regulatory compliance

Problem
Client applied to the SEC to classify as a Consolidated Supervised Entity (CSE). Pursuant to the application, the SEC was to spend several weeks onsite reviewing risk management practices and internal controls. Client was grappling with how to support the significant documentation requirements, with the right skills and experience, in a way that was highly integrated with the business, and at a reasonable cost.

Solution
Axiom Team worked with senior management and other internal personnel to obtain, prepare and organize documentation in connection with the review. Axiom team leader managed the overall process and workflow and expanded and contracted the team throughout the project. He also was the key client interface throughout.

Benefit
Successful project outcome: Client successfully received CSE regulatory status; Project management ensured responsiveness and transparency.
Flexibility: Team Leader determined scope and duration of the project; Built a flexible team as needed.
Cost savings: $1.2 million over 4 months (Axiom rate of $130/hr versus traditional law firm/consulting team rate of $500/hr).