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Risk and Enhancing Compliance Programs
Conference for Registered
Investment Advisers, Hedge and Private Equity Funds, and Dual
25-27, 2013, Napa, CA
Renowned speakers and experts who are regulators, attorneys, CCO's,
operations managers and not-for-profit leaders expound on a powerful
agenda designed to help compliance professionals analyze risk and
enhance compliance programs.
Ascendant is at the forefront, identifying the compliance issues that most require your attention, and providing events with the best information and practical guidance.
does Ascendant always emphasize the need for compliance professionals
to study their business and operations before making assessments?
Because it's essential.
All attendees will receive Ascendant's Model Identity Theft Program for compliance with the newly adopted Regulation S-ID. Obtain the model before the conference, gain training at the conference and implement with confidence by the November 20, 2013 compliance date. Ascendant is the leader in the application of new technology-based rules within compliance programs.
Wednesday, September 25, 2013
9:00-11:00 (run concurrently)
Organizing and Managing a Compliance Program
Limited resources remain a hallmark of compliance programs. Years of work designing programs that continually function to prevent and detect violations of securities laws. Data must be stored and indexed for easy location and production. This pre-conference workshop will discuss the common methods to streamline information and processes.
• Helpful Tools
• Building a Culture of Compliance
• Emphasis on Communication with Employees
• Sample “Mock” Employee Training
• Daily Activities and Networks
• Roundtable discussions for last 30 minutes
A Compliance Program Overview for Private Fund Managers
Some private fund managers had not awaited the Dodd Frank deadline of March 31, 2012 to register. Then approximately 1,200 additional private fund managers became registered. The SEC had little time or experience with many such firms, particularly private equity. Now, over a year past the registration requirement, many managers have experienced or will experience their first exam. This workshop, specifically designed for private fund managers, will focus on the Investment Advisers Act and the organization and operation of Compliance Programs.
Specific Requirements of the Investment Advisers Act
- Registration, disclosures, contractual provisions, prohibited acts or omissions
Risk Analysis and the Annual Compliance Review
- Putting the big picture together
Custody Rules, Pay-to-Play, Insider Trading SEC Examinations Roundtable discussions for last 30 minutes
1:30-1:40 Introduction & Housekeeping
SEC Exam Oversight of RIAs
Insight about findings from recent presence exams, areas of current focus, perennial problems, and regulators and advisers working successfully together.
2:35-2:55 Networking Break
2:55-3:10 Vendor Introductions
3:15-4:25 Identity Theft Red Flags Rules, Incident Response
Under the SEC’s new rule-making, by November 20, 2013, most investment advisers must adopt an Identity Theft Program. There are many details to cover. Walk away from this panel confident of your plan to implement this new requirement.
What the Red Flags Rules require advisers to do:
1. Identify relevant types of identity theft red flags;
2. Detect the occurrence of those red flags;
3. Respond appropriately to the detected red flags;
4. Periodically update the identity theft program; and
5. Develop an incident response plan.
Other necessary considerations that the panel with cover include data leakage and data loss concerns of advisers (Dropbox, lack of encrypted data, breaches, etc.); controls to safeguard information; automated and manual controls to prevent data loss; identifying when data loss and breaches have occurred; incident response; steps to take if an adviser discovers a data breach; regulatory reporting requirements if there is a breach; and reputational implications.
The SEC’s new red flags rules (April 10, 2013) state that “The growth and expansion of information technology and electronic communication have made it increasingly easy to collect, maintain, and transfer personal information about individuals. Advancements in technology also have led to increasing threats to the integrity and privacy of personal information.”
4:30-5:30 Marketing Discussion Groups
Old Advertising Rules in the Modern Age
Difficulties with case studies and past specific recommendations
Problems with Pitchbooks
Website and social media concerns
Disclosure, disclosure, disclosure- is it enough?
Identify and collaborate with peers in discussion groups separately focused on:
1. Social media (updates on SEC progress, recommendations/likes, and more)
2. Private equity (plus AIFMD, Small Jobs Act, SEC’s aberrational performance studies)
3. Hedge funds (plus AIFMD, Small Jobs Act, aberrational performance studies)
4. Performance advertising (GIPS standard, aberrational performance studies)
5:30-7:30 Welcoming Reception & Exhibitor Showcase
Thursday, September 26, 2013
Ethics’ Role in Compliance for Registered Investment Advisers
9:00-10:15 Ethics Roundtable Discussion Groups
With collaboration from the CFA Institute, attendees address real situations in which the names have changed but not the facts. Nor have the possibilities. Recognizing it’s not easy to make these calls comes from interaction with your peers. Round tables, small groups, big setting. Case studies that will leave you thinking.
10:15-10:30 Networking Break
10:30-10:45 Vendor Introductions
10:45-11:40 It’s So Important to Know Your Clients and/or Investors
Certain rules apply to certain clients and investors. This panel takes the unpredictable path of reviewing the various classifications of clients and investors and reviews the applicable regulations based on those classifications. Among the topics to be covered:
• Form ADV;
• Private Funds;
• KYC and OFAC; and more
11:45-12:20 SEC Examination Interviews
Our group continues the beneficial practice of mock SEC examination interviews. As a key part of an examination, opening interviews set the stage. Is this SEC exam routine? Was there a complaint? From a past employee? Have we done enough in our Compliance Program? Ascendant's Naples Conference highlighted tough questions and how to handle them. Here’s what you can learn from the questions asked by the examiners, and some practice on how compliance and management personnel should answer questions.
1:20-3:15 Special Presentation & Panel Discussion
3:15-3:30 Networking Break
3:30-3:40 Vendor Introductions
3:40-4:40 Managing Risk: Onboarding Employees
Here’s a risk that may not be on your current risk assessment. Growing and large advisers need to manage the risk of new employees. This panel will discuss practices for most quickly assimilating new employees into the culture of compliance. Also specific consideration of new employee requirements and best practice controls: email; social media; other electronic information; security access; system access; DRP info.; licensing requirements; certifications; initial holdings report; information security; trade secret protection; and more.
4:45-5:30 Discussion Groups
1. Private Funds. Key Specific Updates (Important information about fund documents, expenses, valuation, insider trading, and side letters, too.)
2. ERISA. Making ERISA Regulations Understandable: It is Possible! (It’s more than just the 408(b)2 disclosure. Prohibited transactions, other areas of concern, DOL exams increasing, etc.)
3. CFTC. Review and Updates. (Registration requirements, policy and training requirements, leveraging IA Compliance Program for NFA requirements.)
4. Compliance Time-Management: Managing the Multiple Hats (How to Leverage technology, work of other groups within your own testing results, use of compliance calendars on Outlook, automation, and of course…speak with our Client Service Directors!)
6:30-9:30 Wine Tasting followed by Dinner in the Estate Wine Cave
10:00 – 11:30 Bowling
Friday, September 27, 2013
8:15-8:25 Opening Remarks
8:30-9:25 Special Presentation - Humor and Compliance
9:30-10:30 Risk Management Methodologies for Investment Managers
This panel will discuss risk assessments of registered investment advisers, the Compliance Program Rule and provide a focus around valuation and business continuity. This panel will further review the COSO Internal Control—Integrated Framework and the COBIT® framework for IT governance that can be leveraged for management of larger compliance programs, adding depth to risk assessment processes. There are tools available starting with reviews designed specifically for each investment adviser. COSO and ISACA are management processes worth adding as an overlay. The SEC has its own risk methodologies. After hearing all of the issues to explore throughout the conference consider these additional methodologies.
10:30-10:45 Networking Break
10:45-11:45 Recent SEC Enforcement Actions
Pointing out what the SEC has raised as enforcement actions to others can help to build a tone at the top. If the SEC found it once then they know to look elsewhere for the same. Avoid these and other analogous problems by shining light on them.
11:50-1:00 Closing Roundtable Discussions
Inspire each other. You’ve conquered the materials. Let’s go get ‘em. Manage the information. Proclaim compliance. Test and audit, oh my.
Thank you to our participants in the CFA Institute's Claritas Pilot Program!
Questions? Call us at 860-435-2255 or email firstname.lastname@example.org
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