SEC awards $47.7M contract for Expert Witness Services to Compliance & Regulatory Consulting Services LLC

Contract Overview

Contract Amount: $47,655 ($47.7K)

Contractor: Compliance & Regulatory Consulting Services LLC

Awarding Agency: Securities and Exchange Commission

Start Date: 2022-02-24

End Date: 2026-03-30

Contract Duration: 1,495 days

Daily Burn Rate: $32/day

Competition Type: NOT COMPETED

Number of Offers Received: 1

Pricing Type: TIME AND MATERIALS

Sector: Other

Official Description: EXPERT WITNESS SERVICES

Place of Performance

Location: SAINT LOUIS, SAINT LOUIS County, MISSOURI, 63138

State: Missouri Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $47,655 to COMPLIANCE & REGULATORY CONSULTING SERVICES LLC for work described as: EXPERT WITNESS SERVICES Key points: 1. Contract awarded to a single vendor, raising questions about competition. 2. The contract is for Expert Witness Services, a specialized area. 3. Potential for cost overruns exists with Time and Materials pricing. 4. The sector is Other Management Consulting Services, with limited public data.

Value Assessment

Rating: questionable

The contract is priced on a Time and Materials basis, which can lead to unpredictable costs. Without competitive bidding, it's difficult to assess if the pricing is fair compared to market rates for similar expert witness services.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

This contract was not competed, indicating a sole-source award. This limits price discovery and may result in higher costs for the government compared to a competitively bid contract.

Taxpayer Impact: The lack of competition and potential for cost escalation under a T&M contract could lead to inefficient use of taxpayer funds.

Public Impact

Taxpayers may be paying a premium due to the absence of competitive bidding. The specialized nature of expert witness services makes it hard for the public to gauge fair pricing. The long duration of the contract (over 4 years) means sustained potential for overspending.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of competition
Time and Materials pricing
Long contract duration

Positive Signals

Specific need for expert witness services
Contract awarded to a known entity (implied)

Sector Analysis

The 'Other Management Consulting Services' sector is broad. Benchmarking expert witness services is challenging due to the highly specialized and often unique nature of the expertise required, making direct comparisons difficult.

Small Business Impact

There is no indication that small businesses were involved in this contract, either as prime contractors or subcontractors. The award appears to be to a single, likely larger, entity.

Oversight & Accountability

The Securities and Exchange Commission is responsible for oversight. The lack of competition and T&M pricing warrants close monitoring to ensure accountability and prevent waste.

Related Government Programs

Other Management Consulting Services
Securities and Exchange Commission Contracting
Securities and Exchange Commission Programs

Risk Flags

Sole-source award lacks competition.
Time and Materials pricing increases cost uncertainty.
Long contract duration (1495 days) extends risk exposure.
Limited transparency on vendor selection justification.
Potential for inefficient use of taxpayer funds.

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $47,655 to COMPLIANCE & REGULATORY CONSULTING SERVICES LLC. EXPERT WITNESS SERVICES

Who is the contractor on this award?

The obligated recipient is COMPLIANCE & REGULATORY CONSULTING SERVICES LLC.

Which agency awarded this contract?

Awarding agency: Securities and Exchange Commission (Securities and Exchange Commission).

What is the total obligated amount?

The obligated amount is $47,655.

What is the period of performance?

Start: 2022-02-24. End: 2026-03-30.

What is the justification for not competing this contract, given the significant expenditure?

The justification for a sole-source award typically involves unique capabilities, urgent needs, or a lack of available sources. Without further details from the SEC, it's unclear why competitive bidding was bypassed for these expert witness services. This lack of transparency hinders the assessment of value for money.

How will the SEC ensure cost control with Time and Materials pricing over a 4-year period?

Effective cost control with T&M contracts relies on robust oversight, clear task definitions, and regular performance reviews. The SEC must actively manage the scope of work, monitor labor hours and rates, and challenge any inefficiencies to mitigate the risk of cost overruns and ensure the services remain within budget.

What specific expertise does Compliance & Regulatory Consulting Services LLC possess that justifies a sole-source award?

The justification for a sole-source award often hinges on highly specialized or unique expertise. For expert witness services, this could include specific industry knowledge, a proven track record in high-profile cases, or proprietary methodologies. The SEC would need to document these unique qualifications to support the decision to forgo competition.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Other Management Consulting Services

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES

Competition & Pricing

Extent Competed: NOT COMPETED

Solicitation Procedures: ONLY ONE SOURCE

Solicitation ID: ERF-671

Offers Received: 1

Pricing Type: TIME AND MATERIALS (Y)

Evaluated Preference: NONE

Contractor Details

Address: 5 LOMBARDY WAY, SAINT LOUIS, MO, 63138

Business Categories: Category Business, Limited Liability Corporation, Partnership or Limited Liability Partnership, Small Business, Special Designations, U.S.-Owned Business, Veteran Owned Business

Financial Breakdown

Contract Ceiling: $47,655

Exercised Options: $47,655

Current Obligation: $47,655

Actual Outlays: $47,655

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED

Cost or Pricing Data: NO

Timeline