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Investment Adviser's Legal and Compliance Guide, 3rd Edition (1-year Online Subscription)

Investment Adviser's Legal and Compliance Guide, 3rd Edition (1-year Online Subscription)

Author: Terrance J. O'Malley; John H. Walsh
Publisher: Wolters Kluwer Legal & Regulatory U.S. (Online)
ISBN: 10071658
Published In: Subscription-type (Contents updated periodically)
Format: Online
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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Investment Adviser's Legal and Compliance Guide, Third Edition is an invaluable guide written to assist attorneys and investment advisers in both drafting their compliance policies and procedures and reviewing them annually. In addition, the book serves as a practical tool for experienced attorneys and compliance officers for fulfilling their changing responsibilities under new rules adopted under the Investment Advisers Act of 1940, as well as new staff interpretations and guidance.

For the Third Edition, authors Terrance J. O’Malley and John H. Walsh are joined by William M. Watts. Each author is a seasoned practitioners and an acknowledged expert in the area of investment adviser compliance matters, The authors’ years of experience, including at the SEC, are reflected in the enhanced practical discussion of relevant legal and compliance issues, including increased numbers of compliance tips, enforcement and regulatory alerts, and compliance tools.

Investment Adviser's Legal and Compliance Guide, Third Edition covers in detail such topics as:

Filings and amendments that an adviser must make to maintain its SEC registration
Major rules and requirements dealing with marketing and attracting new clients
Issues arising in connection with the management of private funds
The SEC's examination process
New clients, and the management of client accounts.

The book also covers requirements relating to the adviser's obligation to its customers, including preventing insider trading and other trading abuses, as well as an adviser's recordkeeping, which is a major factor in meeting the requirements of the Investment Advisers Act.

In addition, Investment Adviser's Legal and Compliance Guide, Third Edition provides registered investment advisers and their legal counsel with a comprehensive review of their compliance responsibilities that arise under the Investment Advisers Act.

Chapter 1. Maintaining SEC Registration and Related Filings

Form ADV
State Notice Filings; Licensing of IA Representatives
SEC Filings Under the Exchange Act

Chapter 2. Marketing Advisory Services

Advertising Generally
Advertising Performance Information
Client Referral Arrangements
Pay-to-Play Arrangements
Representation of Qualifications

Chapter 3. Establishing and Maintaining the Client Relationship

Brochure Delivery Requirements
Advisory Contracts
Custody of Client Assets
Proxy Voting
Privacy (Regulation S-P)
Cybersecurity
Anti-Money Laundering

Chapter 4. Managing Client Accounts

Suitability
Client Investment Objectives
Best Execution
Soft Dollar Practices
Allocation of Investment Opportunities
Aggregation of Client Orders
Principal and Cross Transactions
Affiliated Brokerage
Trade Error Corrections
Federal and State Law Investment Limits
Retirement Investor Accounts
Securities Valuations
Short Selling in Connection with Public Offerings

Chapter 5. Compliance Oversight

The Compliance Infrastructure
Supervisory Procedures
Prevention of Insider Trading
Prevention of Market Manipulation
Codes of Ethics
Supervision of Sub-Advisers
Business Continuity Plans
Operational Compliance

Chapter 6. Private Funds, and Specialty Products

Introduction to Private Funds
Private Fund Adviser Registration
Investment Company Issues
Private Placements and the “Bad Actor” Prohibition
Marketing and Communications
Maintaining Private Funds
Portfolio Management Issues
Recordkeeping
Form PF Reporting
Incentive-Based Compensation Oversight
Specialty Products – Wrap Fee Programs
Electronic Advice

Chapter 7. Recordkeeping Requirements

Required Books and Records
E-mail Retention
Current Basis
Location and Duration of Record Retention
Method of Retention

Chapter 8. SEC Compliance Examinations

Examination Authority
Types of Examinations
Identification of Risks
The Risk-Targeted Examination Process
Areas Covered During Risk-Targeted Examinations
Risk-Targeted Examination Results
Managing a Risk-Targeted Examination—Practical Considerations
Enforcement
Whistleblower Rules

APPENDICES:

Compliance Requirements Summary Chart
Registered Investment Adviser Record Retention Chart
Registered Investment Adviser Compliance Calendar
Advertisement Review Checklist
Investment Adviser Association’s Best Practices for Investment Adviser Codes of Ethics
Frequently Asked Questions on Form ADV and IARD
Staff Responses to Questions About Part 2 of Form ADV
Frequently Asked Questions on Form PF
Division of Investment Management: Frequently Asked Questions About Form 13F
Clover Capital Management, Inc. No-Action Letter (Oct. 28, 1986)
Staff Responses to Questions About the Custody Rule
Staff Responses to Questions About the Pay to Play Rule
SMC Capital, Inc. No-Action Letter (Sept. 5, 1995)
Letter from the Office of Compliance Inspections and Examinations: To Registered Investment Advisers, on Areas Reviewed and Violations Found During Inspections
Examination Information for Investment Advisers
Auchincloss & Lawrence Incorporated No-Action Letter (Apr. 5, 1974)
Heitman Capital Management, LLC No-Action Letter (Feb. 12, 2007)
Interpretive Release Concerning the Scope of Section 28(e) of the Securities Exchange Act of 1934 Release No. 34-23170, (Apr. 23, 1986)
Commission Guidance Regarding Client Commission Practices Under Section 28(e) Release No. 34-54165, (July 18, 2006)
Lerner, Charles No-Action Letter (Nov. 14, 1988)
Interpretation of Section 206(3) of the Investment Advisers Act of 1940 Release No. 1732 (July 17, 1998)
Investment Advisers Act of 1940
Rules Under the Investment Advisers Act of 1940