Form ADV Help: ComplianceCast, Toolkit

By now, many have heard about the coming changes to Form ADV which will be effective October 1, 2017. These changes can be largely grouped into three categories:

  1. Separately Managed Accounts: Firms will be required to provide additional information about their SMA businesses, including assets under management, borrowings and derivatives, number of clients and types of assets held
  2. Additional Identifying Information: Firms will also be required to include additional identifying information about their businesses, which is either new information (e.g. addresses of all company social media accounts) or more specific answers to existing questions (e.g. stating exact # of clients or AUM where it used to be a range)
  3. Umbrella Registration: Private fund adviser entities operating a single advisory business who meet certain conditions will be able to register using a single form ADV as part of an “umbrella registration”

ADV ToolkitIn addition to the above, the final rule, which was enacted in October 2016, included changes to the Investment Advisers Act Books and Records Rule requirements. Subsequently-released technical amendments to Form ADV were also issued in May 2017 to reflect the recent changes to Wyoming’s state registration protocol.

The way we’re thinking about these changes are – they’re material, but manageable. We don’t think they should be a huge burden on most firms, but they do require close attention. For that reason, we’re hosting a ComplianceCast on the topic on Thursday, July 20 to talk through the changes in more detail.

In addition, on August 1, we’ll be releasing our free Ascendant Form ADV Toolkit, which will be hosted on our proprietary technology tool, Ascendant Compliance Manager (ACM). The toolkit will have valuable content like templates, checklists of the new information required and commentary from our consulting team to make this process as painless as possible – whether you’re filing your firm’s Form ADV for the first time or the 20th.

COMPLIANCECAST REGISTRATION | FORM ADV TOOLKIT REGISTRATION

*Note if you are an existing client on ACM, you will automatically have access to the toolkit and do not need to register to receive a copy.

Related Content

Latest Content

Takeaways and Tips Related to SEC Risk Alert on Regulation S-P

On April 16, 2019, the SEC released a Risk Alert providing a list of compliance issues related to Regulation S-P, the primary SEC rule regarding privacy notices and safeguard policies of investment advisers and broker-dealers. As with other risk alerts, these were deficiencies noted by OCIE in regulatory examinations. Though the deficiencies were fairly common … Continued

How to Be a Wildly Effective Compliance Officer

Being a Compliance Officer is no easy task. Administering a compliance program, implementing controls to help protect clients and the firm, and staying on top of new regulations is only part of the job. Compliance Officers are also expected to be flexible and pro-business. So how do you do it all? How can you be … Continued

Mitigating the Risk of Insider Trading

One of the biggest risks affecting investment advisers is the potential that material non-public information (“MNPI”) may be misused, leading to a charge of insider trading. Advisers should implement controls to mitigate these risks. Steven Stone of Morgan, Lewis & Bockius, LLP, Salvatore Cincinelli of the FBI and David Chaves of Tone at the Top … Continued

Compliance 2.0 – Being a Strategic Partner in Your Firm

Compliance as a profession continues to evolve. With Enron, Bernie Madoff and numerous other failures paving the way for rulemaking across industries and nations, the days of drawing a short straw, getting drafted into a compliance role and operating in isolation outside of the business are – or should be – ancient history. Since the … Continued

Big Data Part III: Preparing for the Future of Global Regulatory Governance

United States and European Union reporting requirements imposed on investment managers have exploded since the Global Financial Crisis and, with the imminent arrival of SFTR in Europe, it seems poised to expand again. The challenge of reporting trades, transactions and contracts in multiple jurisdictions requires firms to embrace technology as regulators continue to look to … Continued

Mailing List

Subscribe to the Ascendant Compliance email list for the latest compliance resources, conferences, ComplianceCasts™, and more.

Loading form...

Contact Us

Ascendant works together with clients to identify and assess critical needs through customized plans. If you need assistance with compliance functions, regulatory services, cybersecurity or technology tools, we’d love to speak with you.