Regulatory Compliance Association Reviews

Compliance Program Transparency™ Series – Session 4

Practice Edge 02

Date: May 24, 2016
General Session: 12 Noon to 1:30 PM EST
Location: Webcast (Free)

Interested in CCE (Continuing Compliance Education)™, CLE or CPE (A & A hours)?

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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:

  1. Compliance officers adopting the RCA’s Compliance Officer Professional Code of Conduct, and
  2. The Alternative Investment or Asset Management firm adopting CFA Institute Asset Manager Professional Code of Conduct® (AMC)

VALUE PROPOSITION OF ATTENDING

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.

Syllabus:

Implementing the AMC Section D – Risk Management, Compliance and Support

  1. Regulatory Requirements
  2. Compliance Officer
  3. Portfolio Information/Third-Party Confirmation
  4. Record Retention
  5. Firm Resources
  6. Business Continuity
  7. Risk Management

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:

Jane Stafford, JD, General Counsel, Regulatory Compliance Association

Faculty:

James Jones, CFA, Founder/Portfolio Manager, Sterling Investment Advisors
Gerald Lins
, JD, GC, Voya
John Stelly
, Director, Blackrock
Mike Thorfinnson
, CFA, CAO, TD Asset Management

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