InstructorTerri Hays
TypeOnline Course
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Tuition Options


PracticeEdge Elite™ Not included

Standard Tuition $400 US

Senior Fellow Matthew Eisenberg, JD, Partner, Finn Dixon & Herling

This course provides a general introduction to the regulation of investment advisers who are required to be registered with the U.S. Securities & Exchange Commission (“SEC”). It has been developed for chief compliance officers, compliance directors and other compliance personnel of investment advisers, that have been tasked with developing, implementing and/or overseeing their firms’ compliance programs. It may serve as a general “roadmap” for inexperienced or less experienced compliance persons and a review of investment adviser regulation “basics” for experienced compliance persons. This course has been divided into three parts.

Part 1 introduces the course and provides an overview of the investment adviser regulatory landscape since the effective date of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), including the impact of the Dodd-Frank Act upon investment advisers to private investment funds (such as hedge funds and private equity funds).

Part 1 provides an overview of the investment adviser registration process, including a description of the Investment Adviser Registration Depository “enablement” process, the information required by Parts 1 and 2 of Form ADV (i.e., the primary application documents that an investment adviser is required to file with the SEC in connection with the registration process), the SEC’s review and approval process with respect to submitted applications, the delivery requirements associated with Part 2 of Form ADV and the update requirements associated with Parts 1 & 2 of Form ADV.

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Students shall learn the following within this Course:

  • The impact of the Dodd-Frank Act on investment adviser regulation, including an overview of investment adviser registration requirements;
  • The elements of each of the following categories of investment adviser registration exemption / exclusion:
    • The “private fund adviser exemption”;
    • The “venture capital fund adviser exemption”;
    • The exclusion for “family offices”;
    • The exclusion for “foreign private advisers”;
  • The investment adviser registration process;
  • The format and information required by, each of Part 1 and 2 of Form ADV; and
  • The SEC’s review of and approval of investment adviser registration applications

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Senior Fellow:

Matthew Eisenberg, JD, Partner, Finn Dixon & Herling

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Accreditation Information

CLE Information

Credit Hours: 3
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:  7010


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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.