IA Compliance: The Full 360° View East
March 21-23 | Washington, D.C.

IA Compliance: The Full 360° View Midwest
June 25 | Chicago, IL
Conquering Current Compliance Challenges
Mar. 7, 2018 | 2:00 - 2:30 PM EST

FinTech: What It Is and How Its Promise Will Affect You Going Forward
Mar. 27, 2018 | 2:00 - 3:00 PM EST
CLE/CPE Approved 
 
RECORDED WEBINARS

Conquering Current Compliance Challenges
Recorded: Feb. 7, 2018 
 
Your Complete Guide to the New Form ADV
Includes: 20 Best Practices, 6 Peer-tested Tools and a 60-minute Webinar 

The SEC Examinations Priorities Handbook
Includes: 28 Best Practices, 20 Document Request Letters and 6 OCIE Risk Alerts

Cybersecurity Strategies to Ensure SEC Compliance, 2nd Edition
Includes: 24 Best Practices, 16 Tools, 4 Risk Alerts and IM Guidance
FORM ADV OVERVIEW
As a hand fits a glove, so do disclosure and fiduciary duty meld to form a bond in the adviser’s world. No document more dramatically defines disclosure for advisers than Form ADV.
 
Clients must be able to assess an adviser’s conflicts, as well as to understand an adviser’s business through a plain-English explanation, which is the purpose behind Form ADV.
 
Of course, the document also informs the regulatory as well.

Disclosures in general

While Form ADV is a public document that must be amended annually, it really simply represents the starkest example of disclosure, which can come in many forms. For instance, an investment company board must be made aware of key compliance issues. An adviser must share records with SEC examiners when they request them. An advisory contract mustn’t mislead.
 
An expectation of truthfulness engulfs the adviser’s role in all of its disclosures, not just Form ADV. Many firms have been cited for faulty disclosures by SEC enforcement staff under Advisers Act section 206 and its catch-all language of “any act, practice, or course of business which is fraudulent, deceptive, or manipulative.”
 
Other sections of the act can be triggered by questionable disclosures, including section 207 (material misstatements), as well rules such as rule 204-1.
 
Compliance occupies a critical role in overseeing the production of Form ADV, as well as other disclosures.
 
Common best practices are to ensure your disclosures are consistent across their many platforms, including advertisements, social media posts, firm websites, limited partnership agreements, prospectuses, private placements memoranda, advisory agreements and more.

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