Introduction
– Why the firm is registered with the SEC
– Form ADV
– Fiduciary Obligations to Clients
Compliance Framework
– The Importance of Policies and Procedures
– Examples of Typical Policies and Procedures
– The SEC’s Anti-fraud Provisions
– The Chief Compliance Officer
– Conflicts of Interest
– Code of Ethics
– Check Your Understanding
Providing Advisory & Investment
– Suitability
– Best Execution
– Aggregation & Allocation
– Cross Trades
– Proxy Voting
– Custody
– Additional Controls
– Check Your Understanding
Marketing & Advertising- Suitability
– What is Advertising
– Restrictions
Disclosures to Clients & Investors
– Brochure Rule
– Form CRS
– Client Agreements
– Paying Others to Solicit New Clients
– Privacy
– Check Your Understanding
Reporting to the SEC
– Form ADV
– Annual Updating Amendment
– Other than Annual Amendments
– Form PF
– Form CRS
– Financial and Disciplinary Information
Financial Crime
– Insider Trading
– Material Non-public Information
– Market Manipulation
– Money Laundering
– AML Red Flags
– Bribery
SEC Supervision
– How the SEC Supervises the Industry
– Managing Communications with the SEC
– SEC Examinations
– Concluding a SEC Examination
– Enforcement
– Common Issues in Enforcement Actions
Quiz
– 80% Pass Mark
Conclusion
– Key Points
Introduction
– Why the firm is registered with the SEC
– Form ADV
– Fiduciary Obligations to Clients
Compliance Framework
– The Importance of Policies and Procedures
– Examples of Typical Policies and Procedures
– The SEC’s Anti-fraud Provisions
– The Chief Compliance Officer
– Conflicts of Interest
– Code of Ethics
– Check Your Understanding
Providing Advisory & Investment Services to our Clients
– Suitability
– Best Execution
– Aggregation & Allocation
– Cross Trades
– Proxy Voting
– Custody
– Additional Controls
– Check Your Understanding
Marketing & Advertising
– What is Advertising
– Restrictions
Disclosures to Clients & Investors
– Brochure Rule
– Form CRS
– Client Agreements
– Paying Others to Solicit New Clients
– Privacy
– Check Your Understanding
Reporting to the SEC
– Form ADV
– Annual Updating Amendment
– Other than Annual Amendments
– Form PF
– Form CRS
– Financial and Disciplinary Information
Financial Crime
– Insider Trading
– Material Non-public Information
– Market Manipulation
– Money Laundering
– AML Red Flags
– Bribery
SEC Supervision
– How the SEC Supervises the Industry
– Managing Communications with the SEC
– SEC Examinations
– Concluding a SEC Examination
– Enforcement
– Common Issues in Enforcement Actions
Quiz
– 80% Pass Mark
Conclusion
– Key Points
Introduction
– Private Fund Advisers
– Common Deficiencies & Compliance Issues
Conflicts of Interest
– Adviser obligations
Fees and Expenses
– Understanding the SEC’s Concerns with Fees and Expenses
– Allocation of Fees and Expenses
– Operating Partners
– Valuation
– Monitoring Fees and Expenses
Material Non-public Information
– Supervision of the markets
– SEC Requirements
– Code of Ethics Rule
Enforcement Actions relating to Exam Findings
– What do OCIE’s observations mean?
– Tangible Case Studies
– Key Takeaways
Quiz
– 80% Pass Mark
Conclusion
– Key Points
– Downloadable Certificate