This is a webcast of the live New York session.
Why you should attend
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, establishing new rules related to adviser custody, political contributions and adviser disclosure and has retooled its adviser exam program.
At this program, attendees will get a solid foundation in the regulatory regime applying to investment advisers. Attendees 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 developments, including the SEC’s adviser exam program and recent enforcement cases.
What you will learn
- Who are the regulators and how do they interact?
- How does an adviser register with the SEC?
- What determines whether an adviser is SEC-registered or state-registered?
- What does an adviser’s fiduciary duty entail?
- How are conflicts of interest resolved?
- What rules apply to adviser advertising?
- What is the role of the adviser’s Chief Compliance Officer?
- How do the SEC and state regulators conduct inspections?
Who should attend
Attorneys and business professionals seeking to understand investment adviser regulation. Additionally, the program provides a refresher to those already working in the investment adviser industry.
PLI Group Discounts
Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact firstname.lastname@example.org or call (800) 260-4PLI.
PLI Can Arrange Group Viewing to Your Firm
Contact the Groupcasts Department via email at email@example.com for more details.
All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.
All times are E.D.T.
Morning Session: 9:00 a.m. - 12:15 p.m. (E.D.T.)
9:00 Overview of Program; Who is an Investment Adviser?
- The Adviser definition
- Exceptions to the definition
- Status of broker-dealers
Kenneth J. Berman
10:00 Adviser Registration; Regulatory Jurisdiction
- State regulation
- The interplay between the SEC and the states
- Registration as an Adviser: The Form ADV
- Registration of Associated Persons
Clifford E. Kirsch, G. Philip Rutledge
11:00 Networking Break
11:15 Regulation of Advisers (Part I): Attracting Clients and Establishing the Adviser-Client Relationship
- The Advisers fiduciary duty; Conflicts of interest
- Referral arrangements
- Investment restrictions
John L. Bronson, Kay A. Gordon
12:15 Lunch Break
Afternoon Session: 1:15 p.m. - 5:00 p.m. (E.D.T.)
1:15 Regulation of Advisers (Part II): Brokerage and Trading Practices
- Selecting the broker
- Soft dollars
- Affiliated brokerage
- Trading conflicts
- Trading errors
Steven W. Stone
2:15 Regulation of Advisers (Part III): Compliance; Recordkeeping and Exams; Trends and Developments (Includes Legal Ethics)
- The Adviser Act’s recordkeeping requirements
- Code of ethics
- Requirements regarding compliance programs and reviews
- The SEC’s Exam Program
- Current initiatives
Michael B. Koffler, Steven A. Yadegari
3:30 Networking Break
3:45 Advisers to Private Funds
- Requirement to register
- Compliance considerations
- Required disclosures
Peter M. Rosenblum, Antoinette Lazarus
PLI makes every effort to accredit its Live Webcasts. Please check the CLE Calculator above for CLE information specific to your state.
PLI's Live Webcasts
are approved for MCLE credit (unless otherwise noted in the product description
) in the following states/territories: Alabama, Alaska, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois, Indiana1
, Iowa*, Kansas*, Kentucky*, Louisiana, Maine*, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, New Hampshire*, New Jersey, New Mexico, Nevada, New York2
, Oklahoma, Oregon*, Pennsylvania4
, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia5
, Virgin Islands, Washington, West Virginia, Wisconsin, and Wyoming*.*PLI will apply for credit upon request.
Arizona: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement.
Arkansas and Oklahoma: Audio-only live webcasts are not approved for credit.
1Indiana: Considered a distance education course. There is a 6 credit limit per year.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.
2New York: Newly admitted attorneys may not take non-transitional course formats such as on-demand audio or video 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.
3Ohio: To confirm that the live webcast 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 biennial 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.
4 Pennsylvania: A live webcast may be viewed individually or in a group setting. Credit may be granted to an attorney who views a live webcast individually. There is a 4.0 credit limit per year for this type of viewing. A live webcast viewed in a group setting receives live participatory credit if the program is open to the public and advertised at least 30 days prior to the program. Live webcasts viewed in a group setting that do not advertise at least 30 days prior the program will be considered "in-house", and therefore denied credit.
5Virginia: All distance learning courses are to be done in an educational setting, free from distractions.
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, refer to your state CLE website or call Customer Service at (800) 260-4PLI (4754) or email: firstname.lastname@example.org.
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.