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Critical Skills for High-Performance Compliance Professionals – Best Execution Compliance Issues: Alert Review, Best Practices and Practical Application
FACT: Broker-dealers and investment advisers have different definitions of “best execution”. This simple fact is at the root of many of the problems firms have in determining whether or not they are achieving best execution. If you have a strictly BD or an IA background, you may encounter this confusion in working with colleagues or vendors with a different background. If you work for a dual registrant, you will likely have to meet the BD definition in some circumstances and the IA definition in others – and then explain it to reps, traders and management!
This session will provide you with a solid foundation in both IA and BD requirements for best execution. Our instructors will begin by comparing and contrasting the two definitions. They will then review how firms go about achieving and documenting best execution, with a special focus on the most recent regulatory guidance on each (with a special focus on OCIE’s 2018 risk alert). The session will also include exercises that will apply IA and BD definitions in a variety of contexts.
After attending this course, attendees should be able to:
- Employ the correct concepts of best execution in IA, BD and dual registrant firms
- Analyze your own best execution procedures and reviews to determine if they meet SEC and/or FINRA standards in transforming rules and regulations into meaningful daily action
- Alert traders, portfolio managers, and senior executives to methods of improving your best execution program.
For Whom: Designed to increase the professional competence of investment adviser professionals with legal, compliance, technology and management responsibilities
Instructional Method: Group Internet-Based and Group Live
Pre-requisites for participation: No prerequisites are required
Advance Preparation: None
CA MCLE = 16.5 (based on a 60-minute hour)
CFP = pending approval (based on a 50-minute hour)
IACCP = 17.5 general, 2.0 ethics (based on a 50-minute hour)
CPE = 19.5 in the Regulatory Ethics field of study (based on a 50-minute hour)