Built from the compliance officer's chair

Luna Compliance was founded by someone who has done the job, not by someone who decided compliance looked like an interesting market.

Our founder has sat on the other side of SEC examinations, built compliance programs from the ground up, bought and implemented the software Luna competes with, and lived inside those systems as the person responsible for getting the work done.

Luna exists because we knew the job could be done better.

When we evaluated compliance platforms, almost every one made us sit through a demo before revealing the price. Few published a number. When the price finally arrived, it assumed something most advisers don't have: a compliance department.

There are 16,544 SEC-registered investment advisers, and the median firm has 8 employees. At a firm that size, the chief compliance officer is often the founder, general counsel, or operations lead, doing compliance on top of a full-time job.

The rules don't get smaller because the firm does.

Rule 206(4)-7 does not ask less of a two-person adviser than it does of a two-hundred-person adviser. The obligations still have to be understood. Policies still have to be maintained. Advertisements still have to be reviewed. Attestations still have to be collected. And the work still has to be documented.

After living inside the existing systems, we noticed something else. Much of the work was still exactly where it had always been.

The platform stored the record. A person still read every advertisement. A person still chased every attestation. A person still had to figure out which requirements applied to the firm's particular registration, business, and activities.

The software was storing the work, not doing enough of it.

So Luna is the product we wanted to buy and couldn't.

The price is on the website. It's free to start. There is no discovery call.

The software does the reading, tracking, and drafting that used to consume the CCO's time.

Luna recommends. A person decides.

Every finding routes to a person. The only automatic decisions are three clear preclearance cases: a request for a security on your restricted list is denied, a request from someone on that issuer's MNPI insider list is denied, and one for a clearly exempt security is approved, each recorded as the system's decision. Every decision is recorded. The record of who decided what is preserved for the examiner, because ultimately that person is still the one the Commission will ask.