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The PowerPoint slides used during the Proposed Amendments to Part 2 of Form ADV Webcast, held on April 24, 2008, are now available
online. To download the slides, please login to the Members-Only area and go to the Legal, Regulatory & Compliance section. Click on #13 - Form ADV, Registration and Disclosure and go to c. Outlines, Articles and Memoranda. The slides are listed as 1. Proposed Amendments to Part 2 of Form ADV by Karen Barr and Valerie Baruch, IAA (powerpoint) (April 24, 2008)
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This interactive workshop focuses on improving operational functions and
resolving common problems faced by small and mid-sized advisory firms. Held in Boston on June 19 and San Francisco on June 26, this half-day workshop
will be led by Mark Tibergien, CEO of Pershing Advisor Solutions LLC, a leading expert on business operations and strategy. It is designed to help
executives and other key personnel develop a plan to achieve optimal operations for their firms. Click here for the brochure. For more information,
please contact Lisa Gillette by e-mail or (307) 733-3332.
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On June 30, 2008, the Investment Adviser Association, ACA Compliance Group, IM Insight, and Old Mutual Asset Management released their 2008 report on compliance testing practices by investment management firms. The
report is based on results from an online survey conducted earlier this year to which more than 400 compliance professionals responded. The report
identifies the types of compliance testing practices and strategies investment
adviser firms are using in the areas of best execution, pricing and valuation, and anti-money laundering. In addition, the survey analyzes certain
compliance testing trends in the areas of compliance programs, soft dollars, gifts and entertainment, and insider trading.
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On July 30, 2007, the Investment Adviser Association and National Regulatory Services... 
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The IAA is pleased to announce that it is cosponsoring the NRS Investment Adviser Compliance Certificate Program. See the IACCP
2008 Schedule.
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The Program was established by National Regulatory Services in 2004 and is designed to advance investment adviser compliance as a profession. The program involves education, work
experience, examination, ethics, and continuing education requirements. The brochure includes a description of the program and dates of training courses. For more information and registration, see the NRS Web site or contact IAA Counsel Paul Glenn with any questions.
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The IAA and SEI are pleased to provide a report...
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on their recent technology/operations survey. Key findings include the following: (1) operational and technology capabilities are viewed as important enablers of business success; (2) most respondents indicated that their IT budgets are currently focused on maintaining and upgrading existing tech/ops systems; (3) most firms report that they expect to increase their IT budgets in 2007; (4) asset managers are dealing with growing IT complexities; and (5) legal, regulatory, and compliance concerns continue to drive IT spending higher.
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Investor Education Brochure:
"Cutting Through the Confusion"
The Investment Adviser Association, along with the Consumer Federation of America, ...
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North American Securities Administrators Association, Financial Planning Association, and CFA Institute, have produced an investor education brochure. Entitled,
"Cutting Through the Confusion," the brochure explains differences between brokers, investment advisers, and financial planners, and
identifies questions investors should ask themselves and potential providers before making a choice. A press release issued by the Coalition for Investor Education highlights the purposes of the brochure. Investors should contact the IAA office to receive a free copy of the brochure.
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A working group comprised of members of the Investment Company Institute, the Investment Adviser Association, and legal counsel to
independent...
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directors developed this questionnaire and certification letter, which are intended to assist members in sub-adviser due diligence reviews, including reviews pursuant to Rule 38a-1 under the Investment Company Act of 1940.
The questionnaire and certification letter are designed for annual, rather than initial, use. Advisers evaluating whether to select a sub-adviser in the first instance may wish to use different questionnaires and certifications. In addition, the documents are not intended for solicitation of all of the information requested in connection with an investment company board's review of an advisory contract under Section 15(c) of the Investment Company Act. These documents are not intended to endorse particular questions or practices and because of different business operations among member firms, no one questionnaire or certification may be appropriate for every firm. In addition, the documents do not constitute, and should not be considered a substitute for, legal advice.
Full Sample Package (PDF)
Certification Letter (.DOC)
Due Diligence Questionnaire (.DOC)
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On February 28, 2006, the Board of Governors unanimously approved revisions to the IAA Standards of Practice.
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“Since the founding of our organization in 1937, the Association has always promoted standards of conduct for investment advisory firms,” said IAA President Blake Moore (Allianz Global Investors U.S. Retail). “The revised standards underscore our continuing commitment to the highest level of ethical and professional responsibility.” The action by the Board is based on the work of the IAA Standards of Practice Review Committee. The committee was formed in July 2005 and was charged with the task of reviewing the Association’s standards and making appropriate recommendations to the IAA Board. The committee consisted of the following persons, representing a broad spectrum of IAA member firms: Andrew J. Bowden, Esq. (Legg Mason Capital Management); Geoffrey I. Edelstein, CFA, CIC (Transamerica Investment Management); Susan G. Freed, CFP (Freed Myers); Elizabeth E. Prickett (Wellington Management Co., LLP); Burnie E. Sparks, Jr., CFA (Bailard, Inc.); Pat H. Swanson, CFA, CIC (King Investment Advisors, Inc.); and Linda Wondrack, Esq. (Columbia Management Advisors). “We truly appreciate the excellent work of the review committee,” said IAA Executive Director David Tittsworth. “Going forward, we urge all IAA member firms to embrace these standards and to assist us in promoting awareness of them.”
The text of the revised Standards of Practice, along with the Association’s mission statement, has been posted to the IAA web site.
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The IAA Board of Governors is pleased to present the 2007 Activity Report of
the Investment Adviser Association. The report highlights the Association's
significant efforts and accomplishments in the areas of advocacy, compliance, education, and services.
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