InstructorTerri Hays
TypeOnline Course
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Tuition Options


PracticeEdge Elite™ Not included

Standard Tuition $400 US

Senior Fellow Tony Artabane, CPA, Managing Member of Anthony Artabane CPA, PLLC, (PricewaterhouseCoopers LLP) (Former)

This course will cover key factors, including factors relating to the Audit, to be considered by Fund Management and the Investment Advisor upon notification of a Regulatory Investigation. Also covered are the following important topics:

  • Identification of the Key Factors in assessing the significance of the Regulatory Investigation and the major considerations for planning a comprehensive management response including factors impacting the Fund’s disclosures and annual audit.
  • Scoping with external counsel an engagement which will include sufficient investigatory procedures for the needs of the management, investors, auditors and regulators.
  • Identification of the key considerations regarding the Private Investment Fund including changes to disclosure in the Fund’s offering memorandum, continuance of offering interests, effects upon redemption provisions, and holdbacks, allocation of legal costs and potential settlement costs and other matters
  • Discussion of Manager’s response plan from the perspective of an Investor, including the importance of timeliness transparency, periodic updates and allocation of costs and other relevant Investor concerns.
  • Identification of specific audit guidance and requirements for communication with external counsel, assessment of the scope of external counsel or management’s investigations, and assessing the probability of and a range of possible loss and the related disclosure.
  • Identification of the most likely modifications to the audit scope and the relevant auditing standards including representation letters and communications with Managers and Board of Directors.
  • Identification of other collateral consequences and disclosure considerations

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Students shall learn the following within this Course:

  • Importance of developing a Comprehensive Management and External Counsel response
  • Importance of forming an optimal Management and Legal Response Team
  • Importance of involving auditors early in the process
  • Six most likely modifications to the audit scope
  • Six likely areas of impact to the fund’s financial statements
  • Timeframe for responding to the regulatory requests for information and completing an internal investigation

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Senior Fellow from Practice:

  • Anthony Artabane,CPA, Managing Member of Anthony Artabane CPA, PLLC, PwC*

Guest Lecturers:

  • Anthony Conte, Principal, PwC Asset Management FS Advisory
  • Kevin Bandoian, CPA, Partner | Regulatory Financial Advisory Services, PwC
  • Patricia Poglinco, JD, Partner, Seward & Kissel
  • Scott Weisman, JD, LLM, Managing Director, PwC Asset Management Risk & Regulatory Practice
  • Jack Yoskowitz , JD, Partner, Seward & Kissel


*Formerly Of

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Accreditation Information

CLE Information

Credit Hours: 4
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information

CPE Information

Credit Hours: 6
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information


Course ID Number:  7700


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Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.

Arizona: Does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. RCA programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.

Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.

Missouri: 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.

New Hamphsire: The approval is for three years from recorded date.

New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.

New 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.

North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.

Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at 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.

Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.

Pennsylvania: 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.

Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.

Tennessee: The approval is for the calendar year in which the live program was presented.

Virginia: All distance learning courses are to be done in an educational setting, free from distractions.

Wisconsin: 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.

Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.

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.

If applicable, the RCA will apply for credit in your state upon request.