Regulatory Compliance Association Reviews

Advertising Compliance: Identifying & Preventing the Most Common Mistakes


Date: September 25, 2018
General Session: 12:00 PM ET to 1:30 PM ET
Location: Webcast (Free)

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Advertising is one of the trickiest compliance areas for investment advisers. A broad definition of “advertising,” a predominantly principles-based regime for regulating communications, and evolving practices and channels of communication keep this topic dynamic and nuanced. An adviser must also factor in that the front line on advertising compliance generally consists of firm leaders and the investor relations/marketing team, who must be kept in the loop on changing regulatory standards and who must keep compliance in the loop when communications are created, revised, or repurposed.

In September 2017, OCIE gave investment advisers considerable insight by publishing the most frequent advertising compliance issues cited in deficiency letters in over 1,000 exams. This webinar will teach you what the SEC Staff is focused on and how you can avoid the same pitfalls. The OCIE report identified common missteps under six classic areas of regulation and threw a spotlight on the misuse of rankings, ratings, credentials, and other professional accolades. The commentary from this experienced panel will include insights from recent exams and investigations, adding further real-world color to OCIE’s noteworthy paper.

The program will also include a discussion of:

  • Most common mistakes discovered in SEC IA Exams
  • Yellow flags that will help you identify risks before mistakes are made
  • SEC’s Touting Initiative, targeted at specific practices involving credentials, ranking, ratings and other testimonials or accolades
  • Some of the nuanced issues around back tested performance
  • Which factors in firm conduct affect the seriousness of the consequences

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:

Alexandra Poe, JD, Partner, Hughes Hubbard & Reed LLP

Guest Lecturers

Janine Diljohn, JD, CCO, HQ Capital
Sandra Forman, JD, Deputy GC & CCO, Registered Funds, Colony Capital, Inc.
David Fitzgerald, JD, GC & CCO, Gabelli Securities
Shannon Horton, CCO, KKR Asset Management, LLC

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