Standard Tuition $400 US
Senior Fellow Gerald Lins, JD, GC, Voya
In 2016, the competition for Institutional Investor allocations continues to intensify.
Recently, many asset managers have discovered a new hurdle: “Compliance Program Transparency™.” Previously, alternative investment and asset management firms could satisfy a due diligence inquiry regarding their compliance program with either:
- A short meeting about the compliance program
- Furnishing the Table of Contents from the compliance manual
- An onsite review of the compliance manual
Unfortunately, the escalating enforcement environment generates an even greater “head line” risk for Institutional Investors – which supersedes investment return.
Consequently, an increasing number of Institutional Investors have requested more substantive and documented access to a firm’s compliance program.
In order to assist fund and asset managers successfully hurdle this emerging obstacle, and win allocations – the RCA created a 2 step, quantitative process, which independently validates a firm’s compliance program:
- Compliance officers adopting the RCA’s Compliance Officer Professional Code of Conduct, and
- The Alternative Investment or Asset Management firm adopting CFA Institute Asset Manager Professional Code of Conduct® (AMC)
Previously, properly adopting CFA Institute Asset Manager Professional Code of Conduct required an outside consultant or large commitment of internal resources.
In 2015, CFA Institute consulted with the RCA to deliver a 5 part AMC Implementation Series and to build an implementation and training platform. This initiative provides a step-by-step tutorial, and furnishes the RCA’s 350 page Model Compliance Manual to greatly reduce the time, effort and expense of this undertaking. Now a CCO or GC can “staff out” the entire process to in-house personnel and the RCA.
Implementing AMC Section A – Loyalty to Clients
1. Protecting Client Interests
3. Independence and Objectivity
Implementing AMC Section E – Performance and Valuation
1. Performance Presentation
2. Fair Market Valuation
Comprehensive Overview – RCA Professional Code of Conduct for Compliance Officers™
Senior Fellow from Practice:
Gerald Lins, JD, GC, Voya
James Jones, CFA, Founder/Portfolio Manager, Sterling Investment Advisors
Michelle Clayman, CFA, Managing Partner & CIO, New Amsterdam Partners
Jane Stafford, JD, General Counsel, Regulatory Compliance Association
Tanya Kerrigan, JD, GC/CCO, Boston Advisors
Credit Hours: 2
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information
Credit Hours: 3
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information
Course ID Number: 8571
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 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.
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.