San Francisco, California WEDNESDAY, NOVEMBER 12, 2014 (All times Pacific Standard Time)

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "San Francisco, California WEDNESDAY, NOVEMBER 12, 2014 (All times Pacific Standard Time)"

Transcription

1 9:00 am 9:05 am Welcome and Introduction Presented by Mark D. Perlow and Richard M. Phillips Mr. Phillips concentrates his practice in securities regulation, particularly SEC enforcement, investment management and broker/ dealer matters. He previously held various positions on the SEC staff, including Assistant to the Chairman; Assistant General Counsel; and Staff Director of SEC Corporate Disclosure and Investment Company Studies. You may reach him at or Mr. Perlow s practice focuses on investment management and securities law. He regularly represents investment advisers, mutual funds, fund boards of directors, hedge funds and broker-dealers on a variety of regulatory and transactional matters. He served as senior counsel in the Office of the General Counsel of the Securities and Exchange Commission from and in the SEC s Division of Enforcement from He worked on regulatory initiatives on fund governance, the scope of the securities laws online, personal trading of investment personnel, and foreign custody of fund assets, and advised the SEC on enforcement actions involving mutual funds and investment advisers. You may reach him at or 9:05 am 9:45 am SEC Enforcement: Broken Windows or Smoke and Mirrors? Presented by Mark D. Perlow and Richard M. Phillips The Increased Volume of Investment Management Cases More Sanctions, More Individuals Named The Whistleblower Program: Many Claims, Few Cases Admissions in Settlements: Much Ado About Little? Cooperation Credit: Where is the Credit? 9:45 am 10:45 am CCO Roundtable: The National Examination Program in Action Moderated by Mark D. Perlow with Industry Speakers Alternative Mutual Funds: Issues and Answers Social Media and Testimonials: New SEC Guidance Fixed Income Issues: Valuation, Best Execution, and Affiliated Transactions The Focus on Servicing Payments to Distributors 10:45 am 11:00 am Break

2 11:00 am 11:45 am ERISA Questions and Answers for Investment Managers Presented by William P. Wade, Marc Mehrespand and Ruth Delaney The Consequences of Fiduciary Status QPAM and Other Exemptions Compliance Considerations Investment Considerations Mr. Wade, a partner in the Los Angeles office, has assisted banks, trust companies, investment advisers, and other financial institutions in planning for and creating collective investment funds, proprietary mutual funds, and other investment management vehicles, products, and services for individual and institutional investors, including employee benefit plans subject to ERISA. He has also assisted these institutions in addressing legal problems arising under ERISA and other fiduciary laws and applicable banking regulations. Before entering private practice, Mr. Wade was inside counsel for a major bank for more than ten years, where his responsibilities included advising the bank s trust and investment management departments and affiliates. You may reach him at or Mr. Mehrespand is a partner in the Washington, D.C. office. He represents investment advisers, banks, broker-dealers and other participants in the financial services industry in a practice that encompasses the major federal securities and commodities laws as well as general corporate law. In particular, Mr. Mehrespand regularly works with clients to form and operate U.S. and offshore private investment funds. He also registers newly formed investment advisers, commodity pool operators, commodity trading advisors and investment companies. You may reach him at or Ms Delaney is an associate in the firm s Los Angeles office. She focuses her practice on advising domestic and offshore private fund advisers on organizational, regulatory, and compliance issues. She also assists clients with structuring private funds to comply with ERISA or to avoid "plan asset" status and also assists institutional clients with collective investment fund matters. You may reach her at or 2

3 11:45 am 12:30 pm The CFTC After the Gensler Era Presented by Marc Mehrespand, Juan Arciniegas and Industry Speaker CPO/CTA Developments Central Clearing SEFs: The First Year Mr Arciniegas is a counsel in the firm s San Francisco office. Mr. Arciniegas works primarily as a derivatives lawyer and has substantial experience in derivatives and commodities trading documentation, including documentation relevant to futures, prime brokerage, OTC clearing, securities lending, and repurchase transactions. Mr. Arciniegas advises on a range of substantive rules and regulations related to derivatives reform and regularly participates in industry initiatives in the development of standards in the OTC and cleared-derivatives markets. You may reach him at or 12:30 pm 1:30 pm Lunch 1:30 pm 2:45 pm CONCURRENT SESSIONS Separate Registered Fund and Hedge Fund and Private Fund Tracks (choose one Track) Concurrent Session 1:30 pm 2:45 pm Registered Fund Track Presented by Mark D. Perlow, Richard M. Phillips and Industry Speaker The Large Asset Manager Program and Systemic Risk Regulation The New Money Market Fund Rules The Proxy Adviser Guidance Concurrent Session 1:30 pm 2:45 pm Hedge Fund and Private Fund Track Presented by J. Matthew Mangan, Marc Mehrespand, Richard Guidice, Jr., and Sonia Gioseffi Presence Examinations: Status and Lessons Examination and Enforcement Focus Areas: Marketing, Expense Allocation and Other Conflicts International Aspects of Fund Management Developments in Fund Terms 3

4 Mr. Mangan counsels investment advisers, private fund managers and broker-dealers on a variety of fund formation, product structuring, transactional, regulatory and compliance, and securities law matters. He structures and documents U.S. and offshore private investment funds and assists clients with a variety of state and federal regulatory and compliance issues. He also represents government plans and other institutional investors and represents individuals and entities on securities enforcement matters involving the SEC, FINRA and other regulatory authorities. He has substantial experience conducting internal investigations in matters relating to securities regulation and compliance. You may reach him at or Ms. Gioseffi is an associate in the San Francisco office and concentrates her practice in the investment management area, where she focuses on a variety of regulatory, transactional and counseling matters involving state and federal securities laws. She advises sponsors regarding the organization and regulatory requirements of private equity funds, venture capital funds, hedge funds and other private investment funds. She also represents institutional investors and public pension plans in connection with their investments in private investment funds. You may reach her at or Mr. Guidice, a partner in the New York and Seattle offices, concentrates his practice in the investment management and securities areas, with a particular emphasis on private fund formation and compliance-related matters. He regularly advises clients (including investment advisers, private domestic and offshore investment funds, broker-dealers and financial institutions) on structuring, organization, distribution, compliance and other regulatory issues. He also assists clients undergoing SEC investigations and examinations. You may reach him at , or com. END OF CONCURRENT SESSIONS 2:45 pm 3:00 pm Break 4

5 3:00 pm 3:45 pm Cybersecurity for Investment Management Firms: Staying Ahead of Trouble and Responding When it Comes Presented by András P. Teleki and Industry Speaker Identification of Risks: Networks, Employees, Investors, Vendors Process and Governance Where is the Government? What to Do if There is a Breach What to Expect Next Mr. Teleki, a partner in Washington, D.C. office, focuses his practice on regulatory compliance issues facing registered investment companies, including mutual funds and closed-end funds, brokerdealers, investment advisers, unregistered funds, variable insurance product issuers and distributors, and related service providers. He also advises financial institutions on anti-money laundering and OFAC issues. Mr. Teleki also has experience in corporate governance and Sarbanes-Oxley issues. You may reach him at or 3:45 pm 4:00 pm Break 4:00 pm 5:00 pm Regulatory Unpredictability: The New Normal? Views from the Industry Moderated by Richard M. Phillips with Industry Speakers 5

Boston, Massachusetts TUESDAY, DECEMBER 9, 2014

Boston, Massachusetts TUESDAY, DECEMBER 9, 2014 ADVANCED TOPICS IN INVESTMENT MANAGEMENT 9:00 am 9:05 am Welcome and Introduction Presented by Michael S. Caccese Mr. Caccese is one of three Practice Area Leaders of K&L Gates Financial Services practice,

More information

Chicago, Illinois TUESDAY, OCTOBER 7, 2014 (All times Central Daylight Time)

Chicago, Illinois TUESDAY, OCTOBER 7, 2014 (All times Central Daylight Time) 8:30 am 8:45 am Welcome and Overview of the Program Presented by: Alan Goldberg Mr. Goldberg s practice focuses on representing registered investment companies and their boards, investment advisers and

More information

Launching a HEDGE FUND in 2015: KEY STRUCTURAL AND OPERATIONAL ISSUES

Launching a HEDGE FUND in 2015: KEY STRUCTURAL AND OPERATIONAL ISSUES Launching a HEDGE FUND in 2015: KEY STRUCTURAL AND OPERATIONAL ISSUES FUND FORMATION SERVICES What sort of legal structure should be used? Most domestic hedge funds are organized as limited partnerships

More information

Chicago, Illinois THURSDAY, NOVEMBER 21, 2013 (All times Central Standard Time)

Chicago, Illinois THURSDAY, NOVEMBER 21, 2013 (All times Central Standard Time) 8:30 am 8:45 am Welcome and Overview of the Program Presented by Alan Goldberg Mr. Goldberg s practice focuses on representing registered investment companies and their boards, investment advisers and

More information

Form 13H Filing Considerations for Investment Managers. September 27, 2011

Form 13H Filing Considerations for Investment Managers. September 27, 2011 Form 13H Filing Considerations for Investment Managers September 27, 2011 Table of Contents I. II. III. IV. V. VI. VII. VIII. IX. X. Introduction... Background... Who is a Larger Trader?. Who has the filing

More information

Investment Advisers Act of 1940

Investment Advisers Act of 1940 Investment Advisers Act of 1940 Robert Bramnik August 2014 2014 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris LLP. Duane Morris Firm and Affiliate Offices

More information

K&LNGAlert. ERISA Fiduciary New Plan Asset Rules for Unregistered Funds

K&LNGAlert. ERISA Fiduciary New Plan Asset Rules for Unregistered Funds K&LNGAlert AUGUST 2006 ERISA Fiduciary New Plan Asset Rules for Unregistered Funds The Pension Protection Act of 2006 (the Act ), passed by Congress and awaiting the President s signature, makes the most

More information

Unison Advisors LLC. The date of this brochure is March 29, 2012.

Unison Advisors LLC. The date of this brochure is March 29, 2012. Unison Advisors LLC 2032 Belmont Road NW, #619 Washington, DC 20009 T 646 290 7697 F 646 290 5477 www.unisonadvisors.com The date of this brochure is March 29, 2012. This brochure provides information

More information

New York, New York THURSDAY, DECEMBER 10, 2015

New York, New York THURSDAY, DECEMBER 10, 2015 1:00 pm 1:10 pm Welcome and Overview of the Program Presented by Ed Dartley Mr. Dartley is a partner in the firm s New York office where he is a member of the Investment Management, Hedge Funds and Alternative

More information

Risk Factors for OFAC Compliance in the Securities Industry

Risk Factors for OFAC Compliance in the Securities Industry Risk Factors for OFAC Compliance in the Securities Industry Updated November 5, 2008 Introduction The U.S. Department of the Treasury s Office of Foreign Assets Control ( OFAC ) is charged with administering

More information

DEFINITIVE ADVICE PRACTICAL GUIDANCE POWERFUL ADVOCACY LLP

DEFINITIVE ADVICE PRACTICAL GUIDANCE POWERFUL ADVOCACY LLP European Funds Practice DEFINITIVE ADVICE PRACTICAL GUIDANCE POWERFUL ADVOCACY LLP European Funds Practice Dechert s international Financial Services Practice features an industry-leading group of experienced

More information

Most registered investment advisers have now been

Most registered investment advisers have now been By Nabil Sabki and Nadia Sager Private funds are issuers that rely on the Section 3(c)(1) or 3(c)(7) exemptions from registration as investment companies under the Investment Company Act of 1940. Private

More information

Starting a Forex Fund

Starting a Forex Fund Starting a Forex Fund By Hannah M. Terhune, Esquire 2008, Capital Management Services Group Market conditions have never been better for setting up a forex fund. The number of forex funds and corresponding

More information

Virtual Asset Management Roundtable Series: SEC Examination Trends for Investment Advisers

Virtual Asset Management Roundtable Series: SEC Examination Trends for Investment Advisers Virtual Asset Management Roundtable Series: SEC Examination Trends for Investment Advisers April 10, 2014 Jennifer L. Klass Daniel R. Kleinman Richard F. Morris Christine M. Lombardo www.morganlewis.com

More information

Clifford Kirsch Mark Smith April 28, 2015. An Overview of the Regulatory Framework Applying to Collective Trusts

Clifford Kirsch Mark Smith April 28, 2015. An Overview of the Regulatory Framework Applying to Collective Trusts Clifford Kirsch Mark Smith April 28, 2015 An Overview of the Regulatory Framework Applying to Collective Trusts Speakers Cliff Kirsch New York, NY 212.389.5052 clifford.kirsch@sutherland.com Mark Smith

More information

Investment Adviser Annual and Other Compliance Matters

Investment Adviser Annual and Other Compliance Matters 2013 Investment Adviser Annual and Other Compliance Matters This annual memorandum provides clients and friends of Finn Dixon & Herling with brief summaries of selected compliance matters relevant to investment

More information

House Education & Workforce Committee hearing on Redefining Fiduciary. Testimony of Kenneth E. Bentsen, Jr. on behalf of the

House Education & Workforce Committee hearing on Redefining Fiduciary. Testimony of Kenneth E. Bentsen, Jr. on behalf of the House Education & Workforce Committee hearing on Redefining Fiduciary Testimony of Kenneth E. Bentsen, Jr. on behalf of the Securities Industry and Financial Markets Association July 26, 2011 Good morning.

More information

December 15, 2014. FINRA Notice 14-50 Relating to Proposed Pay to Play Rules. Dear Ms. Asquith:

December 15, 2014. FINRA Notice 14-50 Relating to Proposed Pay to Play Rules. Dear Ms. Asquith: Marcia E. Asquith Office of the Corporate Secretary Financial Industry Regulatory Authority 1735 K Street NW Washington, DC 20006-1506 Re: FINRA Notice 14-50 Relating to Proposed Pay to Play Rules Dear

More information

CFTC Part 4 Exemption Easy Reference Guide. Click on the exemption type for more information on how to file and requirements for each exemption.

CFTC Part 4 Exemption Easy Reference Guide. Click on the exemption type for more information on how to file and requirements for each exemption. Click on the exemption type for more information on how to file and requirements for each exemption. Exemption Type General Relief Who Qualifies Exemptions from Registration 4.13(a)(1) (Pool level for

More information

J.P. Morgan Securities LLC CFTC Supplemental Disclosures

J.P. Morgan Securities LLC CFTC Supplemental Disclosures CFTC Supplemental Disclosures February 2015 Assets and Capital Allocation as of February 28, 2015 Asset Allocation Capital Employed Financing (Resales, Borrows) 50.9% 2.0% Inventory by Business Line Public

More information

DOL s Fiduciary Rule Increases Advisor Responsibility

DOL s Fiduciary Rule Increases Advisor Responsibility New Frontiers For Advisors Who Lead the Way First Quarter 2016 DOL s Fiduciary Rule Increases Advisor Responsibility Industry interest has increased around the Department of Labor s (DOL) rule expanding

More information

The term mid-size advisor refers to a registered investment advisors with assets under management between $25 million and $100 million.

The term mid-size advisor refers to a registered investment advisors with assets under management between $25 million and $100 million. VIA ELECTRONIC MAIL Elizabeth M. Murphy Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-1090 RE: File Number S7-36-10 Rules Implementing Amendments to the Investment

More information

Part 2A of Form ADV: Firm Brochure

Part 2A of Form ADV: Firm Brochure Part 2A of Form ADV: Firm Brochure Item 1 Cover Page A. VL Capital Management LLC 55 West Church Street Orlando, FL 32801 Mailing Address: P.O. Box 1493 Orlando, FL 32802 Phone: (407) 412-6298 Effective

More information

Investment Management FEBRUARY 2004

Investment Management FEBRUARY 2004 Investment Management FEBRUARY 2004 SEC Adopts Final Rules Mandating Compliance Programs for Investment Companies and Investment Advisers The Securities and Exchange Commission adopted new Rules under

More information

Documenting and Negotiating Prime Brokerage Agreements

Documenting and Negotiating Prime Brokerage Agreements Documenting and Negotiating Prime Brokerage Agreements September 26, 2013 1. About the Speakers 2. Presentation 3. About Schulte Roth & Zabel About the Speakers Craig Stein Schulte Roth & Zabel LLP 919

More information

Dennis Matthew Breier d/b/a Fairwater Wealth Management

Dennis Matthew Breier d/b/a Fairwater Wealth Management Item 1 Cover Page Dennis Matthew Breier d/b/a Fairwater Wealth Management Registered Investment Adviser 16W455 S. Frontage Road, Suite 311 Burr Ridge, Illinois 60527 (630) 282-6520 phone (630) 282-6520

More information

HOW HEDGE FUNDS ARE STRUCTURED

HOW HEDGE FUNDS ARE STRUCTURED HOW HEDGE FUNDS ARE STRUCTURED Contents Executive Summary A hedge fund is an investment vehicle that can employ a wide range of investment and trading activities to maximize performance returns while minimizing

More information

K&LNGAlert. Investment Management/ERISA Fiduciary New Prohibited Transaction Rules and ERISA Fidelity Bond Requirements

K&LNGAlert. Investment Management/ERISA Fiduciary New Prohibited Transaction Rules and ERISA Fidelity Bond Requirements K&LNGAlert AUGUST 2006 Investment Management/ERISA Fiduciary New Prohibited Transaction Rules and ERISA Fidelity Bond Requirements The Pension Protection Act of 2006 (the Act ), recently passed by Congress

More information

Client Alert July 21, 2010

Client Alert July 21, 2010 Corporate & Securities North America Client Alert July 21, 2010 For additional information, please see our Dodd-Frank Wall Street Reform And Consumer Protection Act website at http://www.bakermckenzie.com/fin

More information

FIDUCIARY ADVISERS KNOW THE FACTS

FIDUCIARY ADVISERS KNOW THE FACTS FIDUCIARY ADVISERS KNOW THE FACTS There is a significant amount of confusion and misinformation in the marketplace regarding investment advisers ability to relieve plan sponsors of their fiduciary responsibilities

More information

Newly Proposed DOL Fiduciary Regulation:

Newly Proposed DOL Fiduciary Regulation: Newly Proposed DOL Fiduciary Regulation: A New Playing Field for Fiduciary Activity Stephen P. Wilkes, Esq. & Introduction Agenda for Today Background on Existing Rule Proposed Fiduciary Definition Carve-outs

More information

A NEW FIDUCIARY RULE FOR THE INVESTMENT ADVICE PLAYBOOK

A NEW FIDUCIARY RULE FOR THE INVESTMENT ADVICE PLAYBOOK PlanAdvisorTools.com A NEW FIDUCIARY RULE FOR THE INVESTMENT ADVICE PLAYBOOK How the DOL s Fiduciary Rule Has Fundamentally Changed Investment Advice for IRAs By Fred Reish - Partner, Drinker Biddle &

More information

JOBS Act/Crowdfunding. Alistair Johnson, Surveillance Director, FINRA, New Orleans District Office

JOBS Act/Crowdfunding. Alistair Johnson, Surveillance Director, FINRA, New Orleans District Office JOBS Act/Crowdfunding Alistair Johnson, Surveillance Director, FINRA, New Orleans District Office Alistair E. Johnson, Surveillance Director in FINRA s New Orleans District Office, manages regulatory coordinator

More information

Best Practices for Engaging With Intermediaries. Introduction

Best Practices for Engaging With Intermediaries. Introduction Best Practices for Engaging With Intermediaries Introduction This document is intended to provide IIUSA members with guidance regarding best practices for engaging with intermediaries who will introduce

More information

Investment Management APRIL 2004

Investment Management APRIL 2004 Investment Management APRIL 2004 SEC Proposes New Disclosure on Portfolio Managers The Securities and Exchange Commission ( SEC ) recently proposed new disclosure requirements related to portfolio managers

More information

SEC Proposes Large Trader Reporting System

SEC Proposes Large Trader Reporting System Financial Institution Advisory and Financial Regulatory Group May 2010 SEC Proposes Large Trader Reporting System I. Overview II. Introduction: Identifying Large Traders On April 14, 2010, the Securities

More information

Alert. Client PROSKAUER ROSE LLP. Regulation of Non-U.S. Investment Advisors and Portfolio Managers Doing Business in the United States

Alert. Client PROSKAUER ROSE LLP. Regulation of Non-U.S. Investment Advisors and Portfolio Managers Doing Business in the United States PROSKAUER ROSE LLP Client Alert Regulation of Non-U.S. Investment Advisors and Portfolio Managers Doing Business in the United States A number of non-u.s. investment counseling firms and investment dealer

More information

What is an Investment Adviser?

What is an Investment Adviser? What is an Investment Adviser? Legal Definition. Investment adviser is a legal term that appears in the Investment Advisers Act of 1940, the federal law that governs investment advisers. Generally, this

More information

F I R M B R O C H U R E

F I R M B R O C H U R E Part 2A of Form ADV: F I R M B R O C H U R E Dated: 03/24/2015 Contact Information: Bob Pfeifer, Chief Compliance Officer Post Office Box 2509 San Antonio, TX 78299 2509 Phone Number: (210) 220 5070 Fax

More information

MidAmerica Nazarene University, Olathe, KS Business Administration

MidAmerica Nazarene University, Olathe, KS Business Administration Website: www.core-cco.com E-Mail: kgarber@core-cco.com Education M.B.A. University of Missouri, Columbia, MO Finance B.A. MidAmerica Nazarene University, Olathe, KS Business Administration Experience CORE-CCO,

More information

Changes to Broker-Dealer Reporting & Auditing Requirements

Changes to Broker-Dealer Reporting & Auditing Requirements Changes to Broker-Dealer Reporting & Auditing Requirements Reporting and auditing requirements for broker-dealers changed significantly starting June 1, 2014. These changes are the culmination of several

More information

2013 SEC and FINRA Year in Review for Broker Dealers and Investment Advisers

2013 SEC and FINRA Year in Review for Broker Dealers and Investment Advisers 2013 SEC and FINRA Year in Review for Broker Dealers and Investment Advisers March 27, 2014 Anne C. Flannery Jennifer L. Klass E. Andrew Southerling www.morganlewis.com Our Team Anne C. Flannery aflannery

More information

A Closer Look The Dodd-Frank Wall Street Reform and Consumer Protection Act

A Closer Look The Dodd-Frank Wall Street Reform and Consumer Protection Act A Closer Look The Dodd-Frank Wall Street Reform and Consumer Protection Act To view our other A Closer Look pieces on Dodd-Frank, please visit www.pwcregulatory.com Part of an ongoing series Impact On

More information

Account Fees: Fee. Physical Certificate Fee Check Delivery. Fees. Outgoing fed wire fee

Account Fees: Fee. Physical Certificate Fee Check Delivery. Fees. Outgoing fed wire fee ERISA Section 408(b)(2) Disclosure Document Brokerage Services Introduction: This disclosure document (this Disclosure Document ) provides an overview of the fees and other compensation charged for or

More information

FIRM BROCHURE DATED: FEBRUARY 11, 2015 POSITIVE RETIREMENT OUTCOMES, LLC 116 MAIN STREET, SUITE 200 MEDWAY, MA 02053

FIRM BROCHURE DATED: FEBRUARY 11, 2015 POSITIVE RETIREMENT OUTCOMES, LLC 116 MAIN STREET, SUITE 200 MEDWAY, MA 02053 Item 1 Cover page FIRM BROCHURE DATED: FEBRUARY 11, 2015 POSITIVE RETIREMENT OUTCOMES, LLC 116 MAIN STREET, SUITE 200 MEDWAY, MA 02053 WWW.POSITIVERETIREMENTOUTCOMES.COM Contact: Brian D. Dillon, President

More information

Dodd Frank: Investment Advisers and Pooled Investment Vehicles

Dodd Frank: Investment Advisers and Pooled Investment Vehicles Dodd Frank: Investment Advisers and Pooled Investment Vehicles Bridge Group May 13, 2011 Laurence V. Parker, Jr. Background Investment Advisers Act traditionally regulated money managers managing investments

More information

November 2, 2015. By Electronic Transmission

November 2, 2015. By Electronic Transmission By Electronic Transmission Jennifer Shasky Calvery Director, Financial Crimes Enforcement Network U.S. Department of the Treasury P.O. Box 39 Vienna, VA 22183 Re: Docket Number FinCEN 2014-0003; RIN 1506-AB10

More information

Compliance Review. SEC Requires Hedge Fund Managers to Register as Investment Advisers. Introduction. Rule Amendment

Compliance Review. SEC Requires Hedge Fund Managers to Register as Investment Advisers. Introduction. Rule Amendment Schwab Institutional Volume 14, Issue 3 May 2005 Ongoing Compliance Updates for Investment Advisors Compliance Review IN THIS ISSUE Introduction................................................. 1 Rule

More information

MEMORANDUM February, 2010

MEMORANDUM February, 2010 MEMORANDUM February, 2010 Disclosure Responsibilities of Asset Managers to Assist ERISA Plans in Reporting Information Regarding Client Brokerage and Commission/Research (Both Third Party and Proprietary

More information

Building an investment advisory business and onboarding new clients comes

Building an investment advisory business and onboarding new clients comes Vol. 20, No. 5 May 2013 Compliance Issues for Establishing New Client Relationships: Part 2 of 2 By Heather Traeger, Kris Easter, and Matthew Cohen Building an investment advisory business and onboarding

More information

Collective. Prepared by the Coalition of Collective. Investment Trusts

Collective. Prepared by the Coalition of Collective. Investment Trusts Collective Investment Trusts Prepared by the Coalition of Collective Investment Trusts Table of Contents Overview... 2 Collective Investment Trusts Defined... 3 Two Broad Types of Collective Trusts...

More information

Limited Scope Audits Of Employee Benefit Plans

Limited Scope Audits Of Employee Benefit Plans Limited Scope Audits Of Employee Benefit Plans May 2009 Topix Primer Series Introduction The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide a general understanding

More information

Substantive Requirements for a Registered Investment Adviser under the U.S. Investment Advisers Act of 1940

Substantive Requirements for a Registered Investment Adviser under the U.S. Investment Advisers Act of 1940 Substantive Requirements for a Registered Investment Adviser under the U.S. Investment Advisers Act of 1940 Alternative investment fund managers and other investment advisory firms that are registered

More information

THE ALLIANCE IN SUPPORT OF INDEPENDENT RESEARCH. c/o Pickard and Djinis LLP 1990 M Street, N.W. Washington, D.C. 20036

THE ALLIANCE IN SUPPORT OF INDEPENDENT RESEARCH. c/o Pickard and Djinis LLP 1990 M Street, N.W. Washington, D.C. 20036 THE ALLIANCE IN SUPPORT OF INDEPENDENT RESEARCH c/o Pickard and Djinis LLP 1990 M Street, N.W. Washington, D.C. 20036 Telephone Telecopier (202) 223-4418 (202) 331-3813 Mr. Jonathan G. Katz Office of the

More information

2015 CRCP Week II: Capstone

2015 CRCP Week II: Capstone 2015 CRCP Week II: Capstone Session Descriptions and Certified Regulatory and Compliance Professional (CRCP ) Program November 8-13, 2015 Session Agenda Day 1 Sunday 4: p.m. 6: p.m. Registration and Reception

More information

June 5, 2006. Exemption from Section 11(d)(1) for Money Market Funds

June 5, 2006. Exemption from Section 11(d)(1) for Money Market Funds June 5, 2006 VIA FEDERAL EXPRESS Nancy M. Morris, Esq. Secretary Securities and Exchange Commission 100 F Street, NE Washington, D.C. 20549-1090 Re: Exemption from Section 11(d)(1) for Money Market Funds

More information

Registration; Amendments or Updates to Registration

Registration; Amendments or Updates to Registration FEBRUARY 7, 2011 INVESTMENT MANAGEMENT UPDATE Registered Investment Adviser Annual Reviews; Calendar of Certain 2011 Significant Dates for Advisers Investment advisers that are registered with the Securities

More information

CLIENT RELATIONSHIP DISCLOSURE STATEMENT

CLIENT RELATIONSHIP DISCLOSURE STATEMENT A. INTRODUCTION CLIENT RELATIONSHIP DISCLOSURE STATEMENT Securities legislation in Canada requires Deans Knight Capital Management Ltd. ( Deans Knight or the firm ) to provide you with certain information

More information

We ask that you hold your questions for the presenters till the end of the program when we will have a Q&A session.

We ask that you hold your questions for the presenters till the end of the program when we will have a Q&A session. Clifford J. Alexander, Partner, Investment Management David Dickstein, Partner, Investment Management Michael J. King, Partner, Broker-Dealer, Securities Enforcement Beth R. Kramer, Partner, Investment

More information

The Volcker Rule Prohibition on Proprietary Trading: Considerations for Broker-Dealer Affiliates of Foreign Banking Organizations

The Volcker Rule Prohibition on Proprietary Trading: Considerations for Broker-Dealer Affiliates of Foreign Banking Organizations Client Alert January 9, 2014 The Volcker Rule Prohibition on Proprietary Trading: Considerations for Broker-Dealer Affiliates of Foreign Banking Organizations The Volcker Rule imposes significant restrictions

More information

GAO 401(K) PLANS. Certain Investment Options and Practices That May Restrict Withdrawals Not Widely Understood

GAO 401(K) PLANS. Certain Investment Options and Practices That May Restrict Withdrawals Not Widely Understood GAO United States Government Accountability Office Report to the Chairman, Special Committee on Aging, U.S. Senate March 2011 401(K) PLANS Certain Investment Options and Practices That May Restrict Withdrawals

More information

COMPLIANCE BULLETIN 01-15 NEW PICTURE EFFECTS

COMPLIANCE BULLETIN 01-15 NEW PICTURE EFFECTS COMPLIANCE BULLETIN 01-15 NEW PICTURE EFFECTS A TALE OF TWO VERTICALS: The Differences Between Broker-Dealers and Investment Advisers I t was the best of times, it was the worst of times Well, that might

More information

Broker-Dealer and Investment Adviser Compliance Programs

Broker-Dealer and Investment Adviser Compliance Programs Lori A. Richards Principal, PricewaterhouseCoopers Financial Services Regulatory Practice Broker-Dealer and Investment Adviser Compliance Programs Regulatory Requirements, Common Minimum Elements, Other

More information

Foreign investment managers and other financial

Foreign investment managers and other financial The Investment Lawyer Covering Legal and Regulatory Issues of Asset Management VOL. 22, NO. 8 AUGUST 2015 Investment Management Business in Australia By Jim Bulling, Daniel Knight, and Gabrielle Palmieri

More information

ERISA 408(b)(2) Retirement Plan Service Provider Disclosure Information

ERISA 408(b)(2) Retirement Plan Service Provider Disclosure Information ERISA 408(b)(2) Retirement Plan Service Provider Disclosure Information This information is being provided to you as the Plan Sponsor or other responsible fiduciary of a retirement plan ("Plan") subject

More information

Financial Services Practice

Financial Services Practice Financial Services Practice 488 Madison Avenue New York, NY 10022 Phone: (212) 661-6166 Fax: (212) 755-6748 www.grassicpas.com About our Financial Services Practice Given today s challenging and unprecedented

More information

How to Set Up Your Own Hedge Fund By Hannah Terhune, JD LLM (Taxation, New York University)

How to Set Up Your Own Hedge Fund By Hannah Terhune, JD LLM (Taxation, New York University) How to Set Up Your Own Hedge Fund By Hannah Terhune, JD LLM (Taxation, New York University) Traders and money managers often dream about one day running their own hedge fund, managing large sums of money,

More information

The Dodd-Frank Wall Street Reform and Consumer Protection Act: Impact, Issues and Concerns in Implementing the Volcker Rule

The Dodd-Frank Wall Street Reform and Consumer Protection Act: Impact, Issues and Concerns in Implementing the Volcker Rule July 2010 The Dodd-Frank Wall Street Reform and Consumer Protection Act: Impact, Issues and Concerns in Implementing the Volcker Rule BY KEVIN L. PETRASIC Introduction The Dodd-Frank Wall Street Reform

More information

Dodd-Frank Act Changes Affecting Private Fund Managers and Other Investment Advisers By Adam Gale and Garrett Lynam

Dodd-Frank Act Changes Affecting Private Fund Managers and Other Investment Advisers By Adam Gale and Garrett Lynam Dodd-Frank Act Changes Affecting Private Fund Managers and Other Investment Advisers By Adam Gale and Garrett Lynam I. Introduction The Dodd-Frank Wall Street Reform and Consumer Protection Act ( Dodd-Frank

More information

WEDBUSH SECURITIES INC. (Futures & Commodities, Crossland Division)

WEDBUSH SECURITIES INC. (Futures & Commodities, Crossland Division) WEDBUSH SECURITIES INC. (Futures & Commodities, Crossland Division) The following Firm Disclosure Document is important information regarding Wedbush Securities, Inc., and in particular the Futures & Commodities,

More information

SEC Adopts Rules to Implement the Private Fund Investment Advisers Registration Act

SEC Adopts Rules to Implement the Private Fund Investment Advisers Registration Act SEC Adopts Rules to Implement the Private Fund Investment Advisers Registration Act Jason E. Brown and Joel A. Wattenbarger of Ropes & Gray LLP On June 22, 2011, the Securities and Exchange Commission

More information

Important Information about Brokerage and Investment Advisory Services

Important Information about Brokerage and Investment Advisory Services Robert W. Baird & Co. Incorporated Important Information about Brokerage and Investment Advisory Services Understanding Brokerage and Investment Advisory Relationships Baird is registered with the Securities

More information

ADVI Advisors, LLC 1050 K Street, NW Suite 340 Washington, DC 20001 Tel 202.509.0761. This brochure was last updated on March 18, 2014

ADVI Advisors, LLC 1050 K Street, NW Suite 340 Washington, DC 20001 Tel 202.509.0761. This brochure was last updated on March 18, 2014 ADVI Advisors, LLC 1050 K Street, NW Suite 340 Washington, DC 20001 Tel 202.509.0761 This brochure was last updated on March 18, 2014 This brochure provides information about the investment advisory qualifications

More information

Bank Collective Trust Funds What You Need To Know

Bank Collective Trust Funds What You Need To Know Bank Collective Trust Funds What You Need To Know San Francisco September 10, 2008 Michael S. Caccese Mark D. Perlow Donald W. Smith William P. Wade Boston and Webinar September 17, 2008 Michael S. Caccese

More information

A Closer Look The Dodd-Frank Wall Street Reform and Consumer Protection Act

A Closer Look The Dodd-Frank Wall Street Reform and Consumer Protection Act A Closer Look The Dodd-Frank Wall Street Reform and Consumer Protection Act To view our other A Closer Look pieces on Dodd-Frank, please visit www.pwcregulatory.com The first in an ongoing series Impact

More information

The Volcker Rule. Financial Institutions

The Volcker Rule. Financial Institutions Financial Institutions 1 The Volcker Rule The Volcker Rule 1 prohibits an insured depository institution and its affiliates from: engaging in proprietary trading ; acquiring or retaining any equity, partnership,

More information

FinCEN and IRS Issue Guidance on FBAR Filing Requirements for Certain U.S. Persons. February 26, 2010

FinCEN and IRS Issue Guidance on FBAR Filing Requirements for Certain U.S. Persons. February 26, 2010 FinCEN and IRS Issue Guidance on FBAR Filing Requirements for Certain U.S. Persons February 26, 2010 The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department issued a Notice of

More information

U.S. ERISA QPAM Exemption

U.S. ERISA QPAM Exemption U.S. ERISA QPAM Exemption Lawrence Davidson June 204 204 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris LLP. Duane Morris Firm and Affiliate Offices New

More information

REED SMITH LLP INVESTMENT ADVISER NEWS QUARTERLY UPDATE

REED SMITH LLP INVESTMENT ADVISER NEWS QUARTERLY UPDATE 4th Quarter 2004 REED SMITH LLP INVESTMENT ADVISER NEWS QUARTERLY UPDATE The Investment Adviser News features regulatory and other news items of interest to the investment management industry and investment

More information

Craig G. Fischer Atlantic Financial Services, Inc. 920 Providence Rd. Suite 201 Towson, MD 21286 3/30/2011

Craig G. Fischer Atlantic Financial Services, Inc. 920 Providence Rd. Suite 201 Towson, MD 21286 3/30/2011 Craig G. Fischer Atlantic Financial Services, Inc. 920 Providence Rd. Suite 201 Towson, MD 21286 3/30/2011 This brochure provides information concerning the services and business practices of Atlantic

More information

Below is a summary of certain recent guidance from the Securities and Exchange

Below is a summary of certain recent guidance from the Securities and Exchange Skadden SEC Recent Developments April 3, 2013 Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates If you have any questions regarding the matters discussed in this memorandum, please contact the following

More information

FS Regulatory Brief. New reporting requirements for exempt reporting advisers Some practical considerations. Who is an exempt reporting adviser?

FS Regulatory Brief. New reporting requirements for exempt reporting advisers Some practical considerations. Who is an exempt reporting adviser? New reporting requirements for exempt reporting advisers Some practical considerations Introduction In June, the Securities and Exchange Commission (SEC) adopted final rules as mandated by the Dodd-Frank

More information

IA Registration 101: A Primer on Investment Adviser Registration. Attorney Advertising

IA Registration 101: A Primer on Investment Adviser Registration. Attorney Advertising IA Registration 101: A Primer on Investment Adviser Registration Attorney Advertising TABLE OF CONTENTS I. SEC Registration The Advisers Act & Registration Procedures II. III. IV. SEC Registration Certain

More information

FS Regulatory Brief. How the SEC s Custody Rule Impacts Private Fund Advisers. Introduction. The Custody Rule: An overview

FS Regulatory Brief. How the SEC s Custody Rule Impacts Private Fund Advisers. Introduction. The Custody Rule: An overview How the SEC s Custody Rule Impacts Private Fund Advisers Introduction Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank, or the Act ) and rules recently adopted by the Securities

More information

SEC Staff Addresses Third-Party Endorsements of Investment Advisers on Social Media Websites

SEC Staff Addresses Third-Party Endorsements of Investment Advisers on Social Media Websites April 2014 Practice Groups: Investment Management, Hedge Funds and Alternative Investments Private Equity SEC Staff Addresses Third-Party Endorsements of By Michael W. McGrath and Sonia R. Gioseffi On

More information

J.H. ELLWOOD & ASSOCIATES, INC. 33 West Monroe, Suite 1850 Chicago, IL 60603 (312) 782-5432 www.ellwoodassociates.com.

J.H. ELLWOOD & ASSOCIATES, INC. 33 West Monroe, Suite 1850 Chicago, IL 60603 (312) 782-5432 www.ellwoodassociates.com. J.H. ELLWOOD & ASSOCIATES, INC. 33 West Monroe, Suite 1850 Chicago, IL 60603 (312) 782-5432 www.ellwoodassociates.com March 31, 2015 This brochure provides information about the qualifications and business

More information

AGENCY: Securities and Exchange Commission ( Commission ). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940

AGENCY: Securities and Exchange Commission ( Commission ). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 This document is scheduled to be published in the Federal Register on 12/23/2015 and available online at http://federalregister.gov/a/2015-32193, and on FDsys.gov 8011-01p SECURITIES AND EXCHANGE COMMISSION

More information

Hedge Fund and Private Equity Fund Sponsorship and Investments Under the Proposed Regulations

Hedge Fund and Private Equity Fund Sponsorship and Investments Under the Proposed Regulations The Volcker Rule 1 Hedge Fund and Private Equity Fund Sponsorship and Investments Under the Proposed Regulations The Volcker Rule prohibits a banking entity from sponsoring or investing in a hedge fund

More information

Avoiding Fiduciary Liability In Real Estate Investments Made By Pension Plans

Avoiding Fiduciary Liability In Real Estate Investments Made By Pension Plans Avoiding Fiduciary Liability In Real Estate Investments Made By Pension Plans Stanley L. Iezman Stanley Iezman is Chairman of the Board and Chief Executive Officer of American Realty Advisors and is responsible

More information

Fiduciary Assure SM Fiduciary support for your retirement plan

Fiduciary Assure SM Fiduciary support for your retirement plan Retirement Plans Group Fiduciary Assure SM Fiduciary support for your retirement plan NOT FOR USE WITH PARTICIPANTS Professional Advice for Plan Sponsors As the sponsor of a retirement plan, it is your

More information

Registration and Regulation of Investment Advisers. Presented by Chris Salter

Registration and Regulation of Investment Advisers. Presented by Chris Salter Registration and Regulation of Investment Advisers Presented by Chris Salter Investment Adviser Registration 2 Overview Registering with the SEC will have a significant impact on the business and operations

More information

EXAMINATION PRIORITIES FOR 2015

EXAMINATION PRIORITIES FOR 2015 EXAMINATION PRIORITIES FOR 2015 I. Introduction This document identifies selected 2015 examination priorities of the Office of Compliance Inspections and Examinations ( OCIE, we or our ) of the Securities

More information

AML in a Best Practices Environment:

AML in a Best Practices Environment: AML in a Best Practices Environment: An Update on Registered dinvestment Advisers Workshop 1B January 29 th, 2014 1:00 2:15pm Catherine LaFalce (Citi) Kevin Taylor (Pershing) Alan P. Williamson (Barclays)

More information

Code of Ethics Effective June 1, 2015

Code of Ethics Effective June 1, 2015 Code of Ethics Effective June 1, 2015 APPLICABLE RULES AND REGULATIONS Rule 17j-1 of the Investment Company Act of 1940, as amended Rule 204A-1 of the Investment Advisers Act of 1940, as amended I. POLICY

More information

Background. 9 September 2015. Practice Groups: Investment Management, Hedge Funds and Alternative Investments Broker-Dealer Finance

Background. 9 September 2015. Practice Groups: Investment Management, Hedge Funds and Alternative Investments Broker-Dealer Finance 9 September 2015 Practice Groups: Investment Management, Hedge Funds and Alternative Investments Broker-Dealer Finance Cybersecurity Update: National Futures Association Proposes Cybersecurity Guidance

More information

Pinyon Pine Capital (PPC) is a registered investment advisory firm that began managing client accounts in March of 2011

Pinyon Pine Capital (PPC) is a registered investment advisory firm that began managing client accounts in March of 2011 Overview Pinyon Pine Capital (PPC) is a registered investment advisory firm that began managing client accounts in March of 2011 PPC offers two investment strategies: long-only and hedged Primary Focus

More information

Division of Swap Dealer and Intermediary Oversight

Division of Swap Dealer and Intermediary Oversight U.S. COMMODITY FUTURES TRADING COMMISSION Three Lafayette Centre 1155 21st Street, NW, Washington, DC 20581 Telephone: (202) 418-6700 Facsimile: (202) 418-5528 gbarnett@cftc.gov Division of Swap Dealer

More information

DEVELOPING AN AML (ANTI-MONEY LAUNDERING) PROGRAM:

DEVELOPING AN AML (ANTI-MONEY LAUNDERING) PROGRAM: DEVELOPING AN AML (ANTI-MONEY LAUNDERING) PROGRAM: Although the Department of the Treasury has not issued specific rules for hedge funds and hedge fund managers, hedge fund managers should adopt and implement

More information

Qualified Eligible Person ("QEP") Definition

Qualified Eligible Person (QEP) Definition Qualified Eligible Person ("QEP") Definition Although this summary is intended to offer useful and practical information, CFTC Regulation 4.7 sets forth the complete definition of a Qualified Eligible

More information

Mr. David A. Stawick March 24, 2011 Secretary Commodity Futures Trading Commission Three Lafayette Centre 1155 21st Street, NW Washington, DC 20581.

Mr. David A. Stawick March 24, 2011 Secretary Commodity Futures Trading Commission Three Lafayette Centre 1155 21st Street, NW Washington, DC 20581. Mr. David A. Stawick March 24, 2011 Secretary Commodity Futures Trading Commission Three Lafayette Centre 1155 21st Street, NW Washington, DC 20581. Re: Form PF Dear Mr. Stawick: These comments are submitted

More information