Critical Skills for High Performance Compliance Professionals


The Seven Deadly Sins: The Most Common Ways in Which Investment Advisers Violate Their Fiduciary Duty

Description:

Forget the 50 ways to leave your lover and the 10 plagues of ancient Egypt. Trusting “your” gut is key for securities compliance professionals, and no matter how they are dressed up, the ways to steal money in the investment advisory arena can be boiled down to a few fairly straightforward categories. If a chief compliance officer (CCO) can learn how to look for them and understand how these simple concepts might underlie very complex financial transactions, a CCO will understand the underpinnings of compliance.

So what are the “seven deadly sins” that mar the investment advisory landscape? What are the taproots that are most often behind schemes by which a disreputable adviser can misappropriate client money? Although some are based on outright fraud, most relate to breaches of the investment adviser’s standard of care: the fiduciary duty that an investment adviser owes to a client. Most often, these deadly sins reflect the existence of a profound conflict of interest between a firm and its clients.

  • Identify the “seven deadly sins” that form the basis of most breaches of a firm’s fiduciary duty
  • Learn a powerful model, which will allow you to trust your gut in gray areas
  • Develop a simplified model to help you communicate complex compliance concepts to business partners and others.

Speakers:

  • Elizabeth Knoblock: Managing Member, Elizabeth M. Knoblock, PLLC
  • David Lui: Co-Editor, Modern Compliance and Principal, Galliard Capital Management
  • Kurt Wachholz: Executive Consultant, NRS

Learning Objectives:

After attending this course, attendees should be able to:

  • Identify the “seven deadly sins” that form the basis of most breaches of a firm’s fiduciary duty
  • Learn a powerful model, which will allow you to trust your gut in gray areas
  • Develop a simplified model to help you communicate complex compliance concepts to business partners and others.

For whom: Designed to increase the professional competence of financial securities professionals with legal, compliance, technology, operations and management responsibilities

Suggested Skill Level: Intermediate

Instructional Method: Group Internet-Based and Group Live

Prerequisites for participation: No prerequisites are required.

Advance Preparation: None

Continuing Education Credits:

See NRS Continuing Education Guide
Recommended CPE Credit: 2 in the Regulatory Ethics field of study
Recommended IACCP® CE General Credit: 2
Recommended CA MCLE Credit: 2