Annual compliance review testing
The annual review, tested through the year and signed in one place.
Pick the tests that fit your firm, set when each one runs, and work them as the year goes. Luna draws the samples from records already in Luna, keeps the evidence with each result, tracks every finding to a fix, and builds the report your CCO edits, signs and presents.
Included in Firm Plus. Not yet available: a Word export of the report, an examiner package download, and automatic retests of past findings.
An adviser must review, no less often than annually, the adequacy of its compliance policies and procedures and the effectiveness of their implementation. An examiner asks to see that review and what it tested.
What it does
A test library to start from
88 tests across 24 areas, from program governance and the code of ethics to marketing, custody, trading, privacy and cybersecurity. Each has an objective, steps, a sample and the evidence to keep. Edit any of them, add your own, link each to the policy it tests, and switch off what does not apply with a reason.
A schedule the CCO sets
Choose quarterly, semi-annual, annual or ad hoc for each test. Scheduled tests go on the compliance calendar, and nothing is scheduled or sent until you open a review year.
Samples you can reproduce
Where the records are in Luna, the population is pulled for you and the sample is drawn from a recorded seed, so anyone can draw the same sample again and check it. You can also upload a population or add items by hand.
Evidence with every result
Work each item and step, attach the evidence, and conclude with No exceptions, Exceptions noted or Observation. A signed test is locked. Reopening one needs a reason and keeps the signed version.
Findings tracked to a fix
Rate each finding High, Medium or Low risk, assign remediation to an owner with a due date, and verify the fix with evidence before it closes. Owners see only their own items.
Risk ratings that explain themselves
Each area shows how its tests came out and why it is rated as it is, and the report carries the areas to watch next year.
A report you edit, then sign
Luna builds the annual report from the year's tests and findings. Edit each section and add your commentary in Luna, then sign it as CCO and download the PDF. Record when it was presented and to whom, and attach the minutes. Every signed version is kept.
A weekly summary, not a flood
Each person gets one email listing what is overdue and what falls due next, weekly on the day the CCO picks, instead of a reminder per test. The CCO can make it daily or turn it off.
A record that holds
Nothing is deleted. Tests are switched off with a reason, evidence is withdrawn with a reason, and review years are closed. If your plan lapses, you can still read the file.