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Form ADV Part 1: Annual Updating Amendment and More
This is an in-person course being taught as part of the Chicago Investment Adviser Compliance Symposium.
Inaccurate and/or inadequate Form ADV disclosures are consistently cited in the SEC’s and many states’ list of “Top Deficiencies.” In this session, experts will systematically walk through Form ADV Part 1 and examine disclosure requirements that impact all advisers (including private fund advisers). This session will also review the method of calculating “regulatory assets under management (RAUM),” re-examine the changes to the ADV Part 1A that became effective in 2018 and discuss how the SEC’s new custody guidance on first- and third-party transfers should be reflected on Form ADV. Finally, your instructors will provide guidance on correlating the information reported in Form ADV Part 1 to disclosures in Form ADV Part 2.
In addition to a detailed overview of Form ADV Part 1, Schedule D, and applicable Form ADV Part 1 Instructions, instructors will help you fully understand Annual Amendment filing requirements, appreciate the meaning of certain key words and terms, and avoid making common mistakes.
After attending this course, attendees should be able to:
- Compile and analyze the new information required by the Form ADV amendments in order to have an accurate Annual Amendment.
- Identify and avoid common Form ADV Part 1 mistakes
- Scrutinize your firm’s practices for first- and third-party asset transfers to accurately answer custody questions under new SEC guidance.
- Calculate Regulatory Assets Under Management (RAUM), using Form ADV instructions
- Establish a team approach to develop and maintain a Form ADV Part 1 that complies with current regulations and is consistent with your firm’s Form ADV Part 2, policies and procedures, advisory contracts, client communications and advertising
- Isolate areas of potential conflicts of interest to alert and remind advisory firm employees of potential risk
For Whom: Designed to increase the professional competence of investment adviser professionals with legal, compliance and management responsibilities
Suggested Skill Level: Basic
Instructional Method: Group – Internet Based and Group Live
Pre-requisites for participation: No prerequisites are required. However, attendees can benefit by reviewing the Investment Advisers Act of 1940 and Form ADV to become familiar with structure and terms.
Advance Preparation: None
NRS Continuing Education Guide
Recommended CPE Credit: 2 in the Regulatory Ethics field of study
Recommended IACCP® CE Credit: 2
Recommended CA MCLE Credit: 2
Recommended CFP® Credit: Pending