SEC Schedules Compliance Seminars for Advisers

The Securities and Exchange Commission (SEC) released the schedule for its upcoming Compliance Outreach Program regional seminars.

The regional seminars, designed for investment advisers and investment company senior officers, including chief compliance officers (CCOs), highlight areas of focus for compliance professionals. They provide an opportunity for the SEC staff to identify common issues found in related examinations or investigations and discuss industry practices, including how compliance professionals have addressed such matters.

The SEC’s Office of Compliance Inspections and Examinations (OCIE), Division of Investment Management, and Division of Enforcement’s Asset Management Unit are joint sponsors.

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The series of regional seminars kicked off in Boston in May with panel discussions on the priorities for the SEC’s National Examination Program, current topics in money management regulation, and OCIE’s process for assessing risks and selecting firms for examination.

Seminars are scheduled to take place in:

Chicago: This seminar will present an overview of the examination process, including how registrants are selected for examination and the most commonly identified deficiencies. There also will be three discussion panels on traded and non-traded real estate investment trusts, on investment companies with special emphasis on alternative investment funds and money market funds, and on current enforcement actions in the investment management industry. Lastly, there will be a breakout session focusing on custody and compliance for small advisers. The seminar takes place August 28. To register, click here.

New York: This seminar will be most relevant to newly registered investment advisers, to dual registrants and to investment advisers affiliated broker/dealers. The topics most relevant to newly registered advisers will include the SEC's examination process, priorities, risk surveillance and examination selection process. In addition, the staff will discuss Form PF and other filing requirements and recent industry and regulatory developments. The topics most applicable to dual registrants or advisers with affiliated broker/dealers will address the staff’s coordinated examination process, common examination findings and controls that some firms use to address conflicts of interest. The seminar takes place September 13. To register, click here.

Atlanta: This seminar will discuss the importance of enterprise risk management and effective compliance and will identify key issues noted during examinations, including conflicts of interests and issues associated with fees, such as undisclosed remuneration, miscalculation, and layering. Additional discussion topics include the changing demographics of SEC-registered investment advisers and key examination program initiatives to address such changes. The seminar takes place September 25. To register, click here.

 San Francisco:  This seminar will feature an overview of the SEC’s examination processes and procedures, and a discussion of OCIE and AMU priorities. Emphasis also will be placed on valuation issues, including best practices for valuing assets by private and registered investment funds. The seminar takes place November 6. To register, click here.

The Compliance Outreach Program was created to promote open communication on mutual fund, investment adviser and broker/dealer compliance issues. The program, formerly known as the CCOutreach Program, was redesigned in 2011 to include all senior officers, not just CCOs, underscoring the importance of compliance throughout a firm’s business operations.

If registrations exceed capacity at an event location, investment company and investment adviser CCOs will be given priority on a first-come, first-registered basis. Instructions on registering for the regional seminars will be sent to each SEC-registered investment adviser using the e-mail account on the adviser’s Form ADV filing. For more information, contact ComplianceOutreach@sec.gov 

Prudential, ASPire Team up on Stable Value Offering

July 16, 2013 (PLANSPONSOR.com) – Prudential Retirement has partnered with ASPire Financial to make Prudential's stable value product available to more school districts that use ASPire as recordkeeper.

Prudential’s stable value option for this platform is designed to provide safety of principal, liquidity and a competitive crediting rate that is guaranteed for at least six months. It was developed to reflect the needs and nuances of the education market. Similar to other ASPire investment options, there are no sales charges or redemption fees.

“This partnership represents a unique opportunity to distribute this innovative product in the 403(b) space and help teachers and administrators achieve better retirement outcomes,” said Jamie Kalamarides, senior vice president, Institutional Investment Solutions, Prudential Retirement.

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