Adviser and Fund Compliance Programs: Building a Sound and Effective Program ** 50% OFF **

        
  
     
Legal Area:        Investment Federal Securities
Total Credit Hours:        2.00
Ethics Credit Included:        0.00
Registration Fee:        $50.00
Course Materials:        textaudio
Session END DATE:        07/31/2017
Information:        Code: SPEC316
  

** available at any time of day and in time increments convenient to you through date referenced above **


CLEonline.com is pleased to present this unique online course on compliance programs for investment advisers and investment companies. This seminar addresses the compliance program requirements imposed on federally-registered investment advisers and funds under rules adopted by the Securities and Exchange Commission. The presentation focuses on specific practical steps advisers and funds can use to build and maintain a compliance program that meets regulatory requirements and functions effectively to avoid securities law violations. It also addresses issues surrounding the qualification, responsibility and legal exposure of individuals designated to serve as Chief Compliance Officer.

This course is designed chiefly for outside lawyers who represent investment fund and investment adviser clients and for in-house lawyers at asset management organizations who are responsible for SEC matters or regulatory compliance in the securities arena. There is no prerequisite for benefiting from this program, other than a basic understanding of the federal securities laws governing investment advisers and investment companies. The course features a streaming audio presentation by Lorna A. Schnase and you can access it on demand at any time during the course of the seminar session. Ms. Schnase has been practicing corporate/securities law for over 25 years and focuses her practice on investment company and investment adviser matters. This presentation is accompanied by PowerPoint slides and is supplemented by a detailed paper and additional documents containing information on this topic.



Subjects to be discussed during this course include:

  1. THE LEGAL PARAMETERS

    1. KEY REQUIREMENTS
      1. Compliance Policies and Procedures
      2. Designation of Chief Compliance Officer

    2. PROGRAM COVERAGE
      1. Conduct
      2. Violations

    3. FORM/FORMAT REQUIREMENTS
      1. Writing Requirements
      2. Compliance Manual

  2. STEPS FOR DESIGNING A COMPLIANCE PROGRAM

    1. STEP 1: CONDUCTING A RISK ASSESSMENT
      1. Areas to Cover
      2. For Investment Advisers
      3. For Funds
      4. Service Provider Interface

    2. STEP 2: DRAFTING POLICIES AND PROCEDURES
      1. Angles To Address: Prevention, Detection, Correction
      2. Cautions

    3. REVIEW/UPDATE REQUIREMENTS
      1. Annual
      2. Interim

  3. THE CHIEF COMPLIANCE OFFICER
    1. STATUS WITHIN THE ORGANIZATION
    2. QUALIFICATION REQUIREMENTS
    3. CCO RESPONSIBILITIES
    4. CCO'S EXPOSURE TO LIABILITY

  4. SPECIAL FUND ISSUES
    1. INDEPENDENCE OF FUND CCO
    2. OVERSEEING SERVICE PROVIDERS
      1. The Fund/Service Provider Interface
      2. CCO'S Role
      3. Contract Issues

    3. BOARD APPROVAL PROCESS
      1. Required Vote, Findings And Considerations
      2. Use Of Program Summaries And Reports
      3. Approving Program Amendments



The speaker for this course is Ms. Lorna A. Schnase, who has been practicing corporate and securities law for over 25 years. Her practice emphasizes investment management matters, primarily for registered investment adviser and mutual fund clients. Ms. Schnase counsels clients regarding a wide range of matters such as organizational issues, registration issues and disclosures, compliance matters, codes of ethics, director independence and other corporate governance issues, anti-money laundering, D&O insurance issues, fund website design and operation, electronic document delivery, e-signature issues, privacy compliance, performance issues, fund advertising, changes of control, best execution, soft dollars and other issues.

Ms. Schnase practices law independently based in Houston, Texas. Prior to establishing her independent practice, Ms. Schnase was a partner with the law firm of Davis, Graham & Stubbs LLP. Prior to that Ms. Schnase practiced in the Los Angeles office of Baker & McKenzie and in the Denver office of Dechert LLP. Ms. Schnase earned her J.D. degree cum laude from Harvard Law School in 1982. Ms. Schnase graduated summa cum laude from the University of Denver with a B.A. degree in mathematics in 1979. She was elected to Phi Beta Kappa and the Mortar Board honors society. Ms. Schnase is admitted to practice in the states of Texas (1991), California (1989) and Colorado (1982). She is a member of the Advisory Board of the Mutual Fund Directors Forum and a member of the Editorial Advisory Board of the publication Practical Compliance & Risk Management for the Securities Industry. Not certified by the Texas Board of Legal Specialization. Ms. Schnase is a frequent author and speaker on investment management-related legal topics and over 30 of her articles and speeches are posted on her website at www.40actlawyer.com.


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This course is approved for credit by the MCLE Committees of the State Bar of Texas, the State Bar of California and the State Bar of Tennessee. In addition, regular CLE credits for this seminar may also be available in a number of other states through CLE Reciprocity (such as Florida) or as an "Approved Jurisdiction" (Tennessee). CLEonline.com is a State Bar of California approved MCLE provider. (These are not self-study credits, but rather 'participatory' credits as you would receive for attending a traditional, live CLE seminar.)


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