Federal, State and Self-Regulatory Organizations (SROs) Securities Regulation

A survey of federal, state and self-regulatory (SRO) securities laws is presented as the foundation on which investment adviser compliance policies and procedures are built. The day’s discussion will focus on the provisions and related rules of the securities laws, apart from the Investment Advisers Act of 1940, that are of particular relevance to investment advisers. Pertinent securities laws to be covered are the Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, Uniform State Securities Act, Sarbanes-Oxley Act of 2002 and Commodity Exchange Act.

This course will help firms:

1) Identify and recognize the major provisions of federal and state securities laws and regulations to understand which requirements affect the firm’s business

2) Demonstrate an understanding of how and which federal and state securities regulatory requirements shape an investment advisory firm’s compliance policies and procedures

3) Differentiate among regulatory requirements to expedite daily compliance and research tasks

4) Demonstrate an understanding of requirements regarding auditor independence and the financial reporting process under the Sarbanes-Oxley Act of 2002

5) Understand the SEC’s view on the application of certain provisions of the federal securities laws to trading in security futures products