In the aftermath of the financial crisis and the resulting regulatory reform, the SEC has advanced significant rulemaking to impose a greater degree of controls on investment advisers’ operations. In fact, the SEC has put the regulation of investment advisers under the microscope. At the same time, Congress is considering financial regulatory reform that could impose a new self-regulatory organization in charge of adviser regulation. In this program, you will get a solid foundation in the regulatory regime applying to investment advisers. You will learn how the Investment Advisers Act of 1940 and state securities laws interact in governing the advisory industry.
A distinguished faculty will offer insights into recent rulemaking including advisor disclosure, custody, and pay-to-play, as well as the new SEC adviser exam program.
Lecture Topics [Total time 06:41:35]
Segments with an asterisk (*) are available only with the purchase of the entire program.
- Laying the Foundation [01:16:56]
Clifford E. Kirsch, Bruce W. Maisel
- Registration, Disclosure and Required Filings [01:02:00]
Clifford E. Kirsch, John Bronson
- Standards of Conduct; Marketing and Advertising; Trading Activity [01:01:41]
Kay A. Gordon
- Retail Advisory Services; Managed Advisory Programs [01:20:33]
Carolyn Tuohy, Kevin Dowling
- Private Funds and Institutional Advisory Services [00:59:47]
Ethan Corey, Peter M. Rosenblum
- Compliance and Exams; Ethics for Adviser Lawyers [01:00:38]
Steven A. Yadegari, John H. Walsh
The purchase price of this Web Program includes the following articles from the Course Handbook available online:
- Introduction to the Investment Advisers Act of 1940
Clifford E. Kirsch
- Registration Under the Advisers Act: A Legal and Compliance Forum for New SEC Advisers 2011
Kenneth J. Berman
- The Adviser Registration Process and the Adviser Disclosure Regime
Clifford E. Kirsch
- Form ADV-Instructions, Part 1A, 2A and 2B
Clifford E. Kirsch
- Standards of Conduct; Marketing and Advertising; Trading Activity
Kay A. Gordon
- Broker-Dealer Advisory Services
Clifford E. Kirsch
- Financial Planning
Clifford E. Kirsch
- Broker-Dealer and Investment Adviser--Standard of Care
Clifford E. Kirsch, Bruce W. Maisel
- Wrap Fee Programs
Clifford E. Kirsch
- Investment Advisers to Private Funds: A Short Outline of Key Concepts
Peter M. Rosenblum
- Private Fund Investment Advisers Registration Act of 2010
Peter M. Rosenblum
- Selected Regulations Under the Investment Advisers Act of 1940
Peter M. Rosenblum
- SEC Interpretive Guidance Concerning Registration of Related Persons Under the Investment Advisers Act of 1940
Peter M. Rosenblum
- Fundamentals of Investment Adviser Regulation 2012: Compliance and Exams: Ethics for Adviser Lawyers
John H. Walsh, Steven A. Yadegari
- Adviser Compliance Programs
Clifford E. Kirsch
- Legal/Compliance Officer Liability
Clifford E. Kirsch
- Standards of Conduct; Marketing and Advertising; Trading Activity (PowerPoint Slides)
Kay A. Gordon
- Index to Fundamentals of Investment Adviser Regulation 2012
Presentation Material
- Introduction to the Investment Advisers Act of 1940
Clifford E. Kirsch, Bruce W. Maisel
- Adviser Registration and Disclosure
Clifford E. Kirsch, John Bronson
- Standards of Conduct; Marketing and Advertising; Trading Activity
Kay A. Gordon
- Retail Advisory Services; Managed Advisory Programs
Carolyn Tuohy
- Private Funds and Institutional Advisory Services
Ethan Corey
- Investment Advisers to Private Funds
Peter M. Rosenblum
PLI makes every effort to accredit its On-Demand Web Programs and Segments. Please check the CLE Calculator above for CLE information specific to your state.
On-Demand Web Programs and Segments are approved in:
Alabama1, Alaska, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois , Iowa2*, Kansas, Kentucky*, Louisiana, Maine*, Mississippi, Missouri3, Montana, Nebraska, Nevada, New Hampshire4, New Jersey, New Mexico5, New York6, North Carolina7, North Dakota, Ohio8, Oklahoma9, Oregon*, Pennsylvania10, Rhode Island11, South Carolina, Tennessee12, Texas, Utah, Vermont, Virginia13, Washington, West Virginia, Wisconsin14 and Wyoming*.
Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.
Minnesota approves live webcasts ONLY
Please Note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. PLI programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.
*PLI will apply for credit upon request. Louisiana and New Hampshire: PLI will apply for credit upon request for audio-only on-demand web programs.
1Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.
2Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.
3Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.
4New Hamphsire: The approval is for three years from recorded date.
5New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.
6New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.
7North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.
8Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.
9Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.
10Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.
11Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.
12Tennessee: The approval is for the calendar year in which the live program was presented.
13Virginia: All distance learning courses are to be done in an educational setting, free from distractions.
14Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.
Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon and keynote speakers.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.
Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, call Customer Service (800) 260-4PLI (4754) or e-mail info@pli.edu.