PracticeEdge Elite™ Not included
Standard Tuition $400 US
Senior Fellow Nathan Greene, JD, Partner, Shearman & Sterling
Much has been written about the “rising tide of regulation.” For investment advisers, this is starkly illustrated in their ever broader and more intrusive reporting obligations. Even for seasoned compliance officers and financial industry executives, just listing the alphabet soup of new filings and forms can be daunting, let alone gaining a thoughtful understanding of the varied requirements! All new in the past several years are Form PF, Form CPO-PQR, Form 13H, new Form ADV and so on. And this is on top of long-established and detailed reporting obligations – Schedules 13D and 13G, Forms 3, 4 and 5, Form 13F, etc. – that apply to firms under a variety of federal securities laws.
Yet regulatory reporting is a core obligation for regulated financial services firms, and failures to comply on a timely, complete and accurate basis can be stiff. In sum, while far from glamorous, regulatory reporting is a “nuts and bolts” compliance task that cannot be ignored.
For a compliance officer or executive at an investment adviser it therefore is critical to develop a framework intended to assure your firm (a) understands and (b) remains current with these obligations. This course session first covers general compliance principles as they relate to a firm’s reporting obligations and then describes the content and timing rules for selected reports in detail. Also covered are strategies for thinking about how activities of your firm give rise to reporting obligations and who at the firm will be best placed to develop the required information in a timely fashion.
Students shall learn the following within this Course:
- Recognize the basic elements of an investment adviser’s regulatory reporting compliance program,
- Recognize the key sources of law,
- Identify sources of industry guidance, such as SEC “Q&A” pages,
- Identify strategies to routinize reporting,
- Identify strategies to enlist staff and service providers throughout the organization in the reporting and related information gathering processes,
- Identify strategies for assessing how activities of your organization give rise to reporting obligations,
- Differentiate between “alert-driven” versus “calendar-driven” reporting frameworks,
- Differentiate between “registration or status-driven” versus “trading or holdings-driven” reporting frameworks, and
- Assess critically the risks and penalties that can attach to reporting failures.
Nathan Greene, JD, Partner, Shearman & Sterling
Credit Hours: 3
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information
Credit Hours: 6
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information
Course ID Number: 7530
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.