Overview of Investment Adviser Regulation

Investment Adviser and Investment Adviser Representative Registration

• Who is an Investment Adviser?
  
• Who is an Investment Adviser Representative?
  
• Who must register and who is exempt?
  
• State vs. Federal Registration
  
• Registration Process
  
• Solicitors
  

Compliance Officers and Compliance Programs

• Culture of Compliance – Running an Effective Compliance Program
  
• The Compliance Manual
  
• The Emerging Role of the Chief Compliance Officer
  
  • Responsibilities
    
  • Reporting, Compensation and Independence
    
  • Liability and How to Avoid It
    
  • Protecting Your Firm
    
• Books and Records Retention
  

Managing Conflicts of Interest

• Best Practices for Personal Trading
  
• Best Practices to Prevent Insider Trading
  
• Other Conflicts of Interest – Trade and IPO Allocations/Proxy Voting/Brokerage Referrals/ Soft Dollars/ Affiliated Transactions

Portfolio Trading Compliance

• Trade/IPO Allocations and Trade Aggregation
  
• Achieving Best Price and Execution
  
• Compliance with Soft Dollar Requirements
  
• Compliance with Agency/Principal Trading Restrictions
  
• Best Practices for Directed Brokerage

Form ADV

• Keeping Your Form ADV Current
  
• Disclosing Conflicts of Interest
  
• Other Disclosure Issues
  

Investment Advisory Contract Issues

• Contract Basics – What is Required and What Are Best Practices?
  
• Performance Fee and Other Compensation Issues
  
• Assignment and Other Contract Issues
  

Advertising Compliance

• Advertising: What’s Permissible?
  
• Performance Advertising: Dos and Don’ts
  
• Prior Performance and Other Miscellaneous Advertising Issues
  

SEC Inspections and Enforcement Initiatives

• The New SEC Risk Based Inspection Program
  
• Preparing Your Firm for an SEC Inspection
  
• Tips on Handling an SEC Inspection and Deficiency Letters