2012

2012 Webinar - Registration Process and Compliance Obligations for Advisers to Commodity Pools Registering with the CFTC

Registration Process and Compliance Obligations for Advisers to Commodity Pools Registering with the CFTC
Wednesday, October 3, 2012, 1:00 pm - 2:30 pm ET

Many advisers to funds that trade commodities, including swaps, must register with the CFTC and NFA as CPOs or CTAs by December 31, 2012. This webinar will walk advisers through the registration process, including how to identify “associated persons” and principals, examination requirements and potential exam waivers, and registration forms. This expert panel will also cover disclosure, reporting, and recordkeeping requirements for registered CPOs and CTAs, NFA regulations, required elements of compliance programs, regulation of marketing and advertising, and available exemptions from certain requirements. The panel will discuss CFTC and NFA guidance and tips for transitioning to the CFTC/NFA regulatory regime.

Presenters:

Cary J. Meer is a partner in K&L Gates' Washington, D.C. office and a member of the Investment Management practice group. She provides compliance advice to registered investment advisers and assists firms in registering as investment advisers, commodity pool operators and commodity trading advisors. She also structures and organizes private investment companies, including hedge and private equity funds and funds of funds. Ms. Meer received her B.S. degree, summa cum laude, from the University of Pennsylvania and her law degree, cum laude, from Harvard Law School. She presently serves on the Washington, D.C. Education Committee for 100 Women in Hedge Funds and on the Editorial Advisory Board Member for Money Manager's Compliance Guide.

Stephen A. McShea is the General Counsel and Chief Compliance Officer of Larch Lane Advisors LLC, a CFTC-registered CPO and SEC-registered investment adviser that specializes in early-stage investing through its fund of hedge fund platform and its hedge fund seeding platform. Mr. McShea manages and supervises all legal and regulatory operations of Larch Lane, including: structuring domestic and offshore private fund of funds offerings (including ERISA funds, bespoke funds and offerings with joint venture partners) and managing the funds’ ongoing compliance obligations; negotiating and structuring founder class and seed investments in start-up and early-stage hedge funds, joint venture and operative agreements for management entities of domestic and offshore funds, and credit facilities for domestic and offshore funds; content and operation of the firm’s compliance policies and procedures; and SEC and NFA filings. Mr. McShea is also an Adjunct Professor of Law at Fordham University School of Law, where he teaches a class on investment adviser and hedge fund regulation. Mr. McShea received a BA from Rutgers College and a JD/MBA from Boston College. He is licensed to practice law in New York and Massachusetts.

Karen L. Barr (Moderator) has served as General Counsel of the Investment Adviser Association since March 1997. From 1989 to 1997, Ms. Barr was in private practice at Wilmer, Cutler & Pickering, where she represented clients with respect to SEC investigations, securities class action litigation, internal corporate investigations, and regulatory matters. Ms. Barr received her B.A., magna cum laude, from the University of Pennsylvania and her law degree, cum laude, from the University of Michigan Law School. She is a frequent speaker on investment adviser law, regulation, and compliance.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.



2012 Webinar - Investment Management Compliance Testing Survey Results Presentation

Investment Management Compliance Testing Survey Results Presentation
Thursday, June 14, 2012, 1:00 pm - 2:30 pm ET

Speakers from the Investment Adviser Association and ACA Compliance Group present the results of this year’s Investment Management Compliance Testing Survey and provide industry insight regarding best practices, emerging trends, and hot issues in Investment Adviser compliance.

Presenters:

Lynne M. Carreiro joined ACA in 2005 and currently serves as a Senior Principal Consultant in the Boston office. Lynne provides a wide variety of regulatory and compliance consulting services to both registered and unregistered clients, with a focus on private funds and investment advisers. Lynne also specializes in assisting advisers with international regulatory issues, and in 2012, Lynne began directing the educational efforts of ACA including the organization of ACA’s conferences, webcasts, and other training opportunities. Lynne began her regulatory career in 2000 as a Securities Compliance Examiner with the Boston District Office of the Securities and Exchange Commission. Lynne received her undergraduate degrees from Trinity College in Washington DC and her J.D. from Vermont Law School.

Kathy D. Ireland is Associate General Counsel of the Investment Adviser Association. Prior to joining the IAA, Kathy acted as an independent consultant focusing on pension and securities issues. In addition, she served as Associate Counsel and Senior Associate Counsel at the Investment Company Institute, representing the mutual fund industry in regulatory matters before the Department of Labor, the IRS, and the SEC. Kathy also worked as an attorney in the Division of Investment Management at the SEC, and as an Associate and Counsel at Gibson, Dunn & Crutcher. She received her B.S. degree, magna cum laude, from Lebanon Valley College, her law degree from the College of William & Mary, and an L.L.M. in Labor Law from the George Washington University National Law Center.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.



2012 Webinar - Do You Have to Register with the CFTC? The Impact of New CFTC Rules on Private Fund Advisers

Do You Have to Register with the CFTC? The Impact of New CFTC Rules on Private Fund Advisers
Wednesday, May 30, 2012, 1:00 pm - 2:15 pm ET

The CFTC recently adopted and amended rules that will have a substantial impact on many private fund advisers. Most importantly, the CFTC rescinded a broad exemption from registration as a Commodity Pool Operator (CPO) on which many private fund advisers relied, while maintaining only a de minimis exemption. The CFTC also imposed new filing requirements on registrants. This webinar will discuss which advisers may rely on the de minimis exemption, which firms must register with the CFTC and the National Futures Association as CPOs and CTAs (commodity trading advisors), the inclusion of swaps in the determination of whether registration is required, how firms should begin preparing for registration with and regulation by the CFTC and NFA, and interpretive issues raised by the CFTC’s rulemaking.

Presenters:

Cary J. Meer is a partner in K&L Gates' Washington, D.C. office and a member of the Investment Management practice group. She provides compliance advice to registered investment advisers and assists firms in registering as investment advisers, commodity pool operators and commodity trading advisors. She also structures and organizes private investment companies, including hedge and private equity funds and funds of funds. Ms. Meer received her B.S. degree, summa cum laude, from the University of Pennsylvania and her law degree, cum laude, from Harvard Law School. She presently serves on the Washington, D.C. Education Committee for 100 Women in Hedge Funds and on the Editorial Advisory Board Member for Money Manager's Compliance Guide.

Stephen A. McShea is the General Counsel and Chief Compliance Officer of Larch Lane Advisors LLC, a CFTC-registered CPO and SEC-registered investment adviser that specializes in early-stage investing through its fund of hedge fund platform and its hedge fund seeding platform. Mr. McShea manages and supervises all legal and regulatory operations of Larch Lane, including: structuring domestic and offshore private fund of funds offerings (including ERISA funds, bespoke funds and offerings with joint venture partners) and managing the funds’ ongoing compliance obligations; negotiating and structuring founder class and seed investments in start-up and early-stage hedge funds, joint venture and operative agreements for management entities of domestic and offshore funds, and credit facilities for domestic and offshore funds; content and operation of the firm’s compliance policies and procedures; and SEC and NFA filings. Mr. McShea is also an Adjunct Professor of Law at Fordham University School of Law, where he teaches a class on investment adviser and hedge fund regulation. Mr. McShea received a BA from Rutgers College and a JD/MBA from Boston College. He is licensed to practice law in New York and Massachusetts.

Karen L. Barr (Moderator) has served as General Counsel of the Investment Adviser Association since March 1997. From 1989 to 1997, Ms. Barr was in private practice at Wilmer, Cutler & Pickering, where she represented clients with respect to SEC investigations, securities class action litigation, internal corporate investigations, and regulatory matters. Ms. Barr received her B.A., magna cum laude, from the University of Pennsylvania and her law degree, cum laude, from the University of Michigan Law School. She is a frequent speaker on investment adviser law, regulation, and compliance.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.



2012 Webinar - Form PF: What Advisers to Private Funds Need to Know

Form PF: What Advisers to Private Funds Need to Know
Wednesday, May 23, 2012, 1:00 pm - 2:15 pm ET

SEC-registered investment advisers with at least $150 million in private fund regulatory assets under management must file new Form PF with the SEC on a confidential basis. Larger private fund advisers must file beginning in 2012, and others must file by early 2013. Form PF requires advisers to report detailed aggregate and portfolio information about their hedge funds, liquidity funds, and private equity funds. This webinar will address important issues advisers should consider in complying with Form PF requirements, including:

  • What is a “private fund,” including treatment of non-US funds
  • How to calculate regulatory assets under management for a private fund
  • What assets to include in calculating reporting thresholds and how to treat parallel managed accounts
  • What assets of an adviser’s “related persons” must be counted in reporting threshold calculations and in reporting data
  • Data required to be filed on Form PF, where the data resides, and policies and procedures advisers should consider
  • Filing on the Private Fund Reporting Depository (PFRD) and confidentiality issues
  • Updating the Form PF (quarterly or annually)
  • Potential implications for dually-registered registered investment advisers and CPOs
Presenters:

David A. Vaughan is a partner at Dechert LLP in Washington, DC. He focuses his practice on investment management, primarily private funds. Mr. Vaughan works with hedge funds, private equity funds, venture capital funds and unregistered traditional funds. He represents managers with respect to fund formation, distribution and compliance issues. He has also represented both insurance companies and fund sponsors with respect to privately placed and offshore variable insurance products. Following 18 years of private practice, David served from April 2009 until July 2011 as the senior private fund policy adviser in SEC’s Division of Investment Management. In that capacity, he advised on all aspects of legal and regulatory policy related to private funds. During that period, he played a leading role in advising on Title IV of the Dodd-Frank Act and the rules implementing those provisions, the Volcker Rule, and the European Union AIFM Directive, among other things.

Sarah G. ten Siethoff is Senior Special Counsel in the SEC’s Division of Investment Management. She assists on the development of policy and rulemaking relating to investment advisers and investment companies. Prior to joining the SEC, Ms. ten Siethoff was an associate with Cleary Gottlieb Steen & Hamilton LLP in their New York and Washington, DC offices. Ms. ten Siethoff received her J.D. from the Yale Law School. Ms. ten Siethoff received her B.A. from the University of Virginia and her M.A. in International Relations from Yale University.

Monique S. Botkin (Moderator) is Assistant General Counsel at the IAA. Prior to joining the IAA in February 2004, Monique was an associate attorney in the financial services groups of Dechert LLP in Newport Beach, California and Alston & Bird LLP in Washington, DC. While in private practice, she represented investment advisers, registered investment companies, private funds, and broker-dealers in corporate, securities, and investment management matters.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.



2012 Webinar - Applying Whistleblower Rules at Investment Adviser Firms

Applying Whistleblower Rules at Investment Adviser Firms
Thursday, May 3, 2012, 1:00 pm - 2:15 pm ET

The SEC has established a Whistleblower Program pursuant to the Dodd-Frank Act that mandates that the SEC award payments to whistleblowers that voluntarily provide the SEC original information of securities law violation(s) leading to enforcement action and penalties collected of over $1 million. This panel will discuss considerations in implementing a whistleblower program at investment advisers and other ideas for meeting the requirements of the program at an advisory firm, including:

  • Adopting policies and procedures
  • Risk management including risk identification and mitigation
  • Training
  • Employment law considerations
  • Considerations in dealing with the SEC, a firm's employees, and bad actors
Presenters:

Stephen H. Bier is a partner in Dechert LLP in New York City. He represents investment advisers and registered open-end and closed-end investment companies and their boards of directors in a variety of matters including the development of new investment products and strategies, transactional issues, regulatory guidance, and compliance matters. He is a speaker on whistleblower issues for asset managers. He graduated from Rutgers College magna cum laude and from Harvard Law School, cum laude.

Lisa Sheeler is a Vice President and Assistant General Counsel at MFS Investment Management in Boston, where she focuses on the institutional investment advisory business, separately managed account programs, registered and unregistered funds and general corporate issues. Prior to joining MFS, she was an attorney at Fidelity Investments and Scudder Kemper Investments, as well as Seward & Kissel. She is a graduate of Boston University School of Law and Georgetown University.

John O'Neill is Director and Counsel for Affiliated Managers Group, Inc. where he works on legal and compliance matters relating to the firms affiliates. He has worked for Deloitte & Touche LLP developing and implementing for clients regulatory and portfolio compliance programs and internal controls. He has been an attorney at the law firm Monahan & Associates, P.C., as well as with Gargiulo, Rudnick & Gargiulo. Mr. O'Neill received a J.D. from Suffolk University Law School and a B.A. from College of the Holy Cross.

Paul D. Glenn (Moderator) is Special Counsel at the IAA. He worked for 12 years at the US Securities and Exchange Commission as a trial attorney and special counsel in the Division of Enforcement and the Office of General Counsel, respectively. Mr. Glenn also worked at the Office of the Comptroller of the Currency (OTS), as Deputy Chief Counsel and Special Counsel. He also worked at PNC Bank N.A. in Washington, DC, (formerly Riggs) and Millennium Bank N.A. in Reston, VA. He earned his LL.M from Georgetown University Law Center; his J.D. and B.A. from Case Western Reserve University; and an honorary doctor of laws degree from Nyack College.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.



2012 Webinar - Best Practices for Investment Advisers to Avoid Violating Pay to Play Regulations

Best Practices for Investment Advisers to Avoid Violating Pay to Play Regulations
Wednesday, April 11, 2012, 1:00 pm - 2:15 pm EST

Investment advisers doing business with state and local government entities (e.g., public pension funds) must comply with political contribution limitations under the Investment Advisers Act pay to play Rule 206(4)-5, as well as with state and local laws governing this area. This webinar will address implementation issues under the Advisers Act rule and relevant state and local rules addressing lobbying and procurement laws, including:

  • Compliance policies and procedures, including pre-clearance (or banning) and reporting of political contributions or activities, identifying an adviser’s covered associates, and certifications
  • An overview of entities that engage in political activity (e.g., 501(c)(4)s, PACs, “Super” PACs, political parties)
  • How the Supreme Court’s Citizens United decision has impacted pay to play regulations
  • Implications for investments by government entities in hedge funds, private equity funds, and venture capital funds and certain mutual funds
  • Complying with the upcoming ban on paying third-party solicitors, including affiliates, and the status of a future FINRA pay to play rule, the SEC municipal advisor rulemaking, and a future MSRB pay to play rule
  • How state and local procurement and/or lobbying laws affect advisers and their marketing personnel
Presenters:

Ronald M. Jacobs is a partner at Venable LLP in Washington, DC. Mr. Jacobs advises clients on all aspects of state and federal political law, including campaign finance, lobbying disclosure, gift and ethics rules, pay to play laws, and tax implications of political activities. He also assists clients with government investigations and enforcement actions, Congressional investigations, class-action law suits, and other high-profile problems that involve potentially damaging legal and public-relations matters. He counsels a broad range of clients, including large and small companies, trade associations, ideological groups, individuals, and political vendors. He has developed political compliance programs for Fortune 500 companies and other clients that lobby and make political contributions nationwide. Mr. Jacobs has represented clients in administrative matters before the Federal Election Commission, the Merit Systems Protection Board, the Federal Trade Commission, the United States Congress, and in federal court. Mr. Jacobs has also counseled and defended clients in disputes involving the Foreign Corrupt Practices Act, the Foreign Agents Registration Act, and privacy and data security issues.

Scott E. Gluck is Of Counsel at Venable LLP in Washington, DC. Mr. Gluck’s practice combines his passion for politics and public policy with his foundation in political and securities law. Mr. Gluck has a unique mix of experience in political law, alternative investments and securities regulations. Mr. Gluck served for six years as vice president and counsel at Markstone Capital Group, a private equity fund focused on investments in “old economy” companies located in Israel. His responsibilities included drafting partnership documents, due diligence for potential transactions and marketing fund to public pension funds around the country. Mr. Gluck’s practice focuses on helping investment advisers, corporations and individuals comply with SEC rules regulating political involvement and other “pay to play” regulations enacted by states, municipalities and public pension funds. Previously, he served as Director of Special Initiatives for the National Republican Congressional Committee. He also served as the California Director for the Republican Jewish Coalition. Prior to working for the Republican Jewish Coalition, he practiced securities law and litigation.

Monique S. Botkin (Moderator) is Assistant General Counsel at the IAA. Prior to joining the IAA in February 2004, Monique was an associate attorney in the financial services groups of Dechert LLP in Newport Beach, California and Alston & Bird LLP in Washington, DC. While in private practice, she represented investment advisers, registered investment companies, private funds, and broker-dealers in corporate, securities, and investment management matters.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please visit the Registration FAQs page or contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.



2012 Webinar - Required ERISA Disclosures to Plan Sponsors: What Advisers Need to Know

Required ERISA Disclosures to Plan Sponsors: What Advisers Need to Know
Thursday, March 15, 2012, 1:00 pm - 2:15 pm EST

The U.S. Department of Labor recently issued final rules that will require that advisers to ERISA plans disclose specific information about the adviser’s services and compensation, both direct and indirect.

This webinar will provide details concerning which plans are covered, what advisers must do before July 1, and when the disclosures must be updated, as well as the consequences of non-compliance.

Presenters:

Michael Hadley is a partner in the law firm Davis & Harman LLP. He practices in the area of employee benefits, advising clients on the full range of tax, ERISA, and other laws affecting benefit plans. He has a particular focus on helping financial institutions that sell products to defined contribution and defined benefit plans, IRAs and 529 plans navigate the special rules that govern those plans. Previously, he was Associate Counsel for Pension Regulation at the Investment Company Institute, the national association of U.S. investment companies. Michael received his J.D. from the University of Virginia, where he was Notes Editor of the Virginia Law Review and elected to the Order of the Coif. He received his B.A., cum laude, from the College of William and Mary.

Kathy D. Ireland (Moderator) is Associate General Counsel of the Investment Adviser Association. Prior to joining the IAA, Ms. Ireland acted as an independent consultant focusing on pension and securities issues. In addition, Ms. Ireland served as Associate Counsel and Senior Associate Counsel at the Investment Company Institute, representing the mutual fund industry in regulatory matters before the Department of Labor, the IRS, and the SEC. She also worked as an attorney in the Division of Investment Management at the SEC, and as an Associate and Counsel at Gibson, Dunn & Crutcher. She received her B.S. degree, magna cum laude, from Lebanon Valley College, her law degree from the College of William & Mary, and an L.L.M. in Labor Law from the George Washington University National Law Center.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222.

Cancellation Policy:

Cancellations and substitutions must be received in writing no later than Thursday, March 8, 2012. There are no refunds for cancellations received after this date.



2012 Webinar - Preparing Newly Revised Form ADV, Part 1: Practical Information and Tips

Preparing Newly Revised Form ADV, Part 1: Practical Information and Tips
Thursday, February 2, 2012, 1:00 pm - 2:15 pm EST

The SEC’s newly revised Form ADV, Part 1 requires advisers to respond to new questions about the private funds they manage as well as other aspects of their business, and will require many advisers to revise how they calculate their assets under management. Advisers to private funds, including hedge funds, private equity funds and most other types of unregistered funds, are required provide information about the funds’ strategies, structures, service providers and marketers. All advisers are required to provide more information about their businesses, including affiliations and custody arrangements, and file an amended Form ADV Part 1 with this new information by March 30, 2012, regardless of their fiscal year end.

The webinar will include a detailed analysis of major provisions of the new requirements and will offer practical tips and guidance for complying with the new requirements. This is your opportunity to pose your questions to the experts before you file Part 1 with the SEC.

IAA members may contact the IAA legal staff and/or visit the Form ADV section of the Members Only area if you have questions or need additional information regarding this important new rule.

Presenters:

David A. Vaughan is a partner at Dechert LLP. He focuses his practice on investment management, primarily private funds. Previously, he was the senior private fund policy adviser in the U.S. Securities and Exchange Commission’s Division of Investment Management in Washington, D.C. In that capacity, he advised on all aspects of legal and regulatory policy related to private funds. During that period, he played a leading role in advising on Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules implementing those provisions, the Volcker Rule, and the European Union Alternative Investment Fund Managers Directive. He received his B.A., cum laude from Bowling Green State University, and his J.D., cum laude, from Georgetown University Law Center.

Daniel S. Kahl is the Assistant Director in charge of the Office of Investment Adviser Regulation in the Division of Investment Management at the SEC. The Office of Investment Adviser Regulation is responsible for the development of policy, rulemaking and exemptive matters under the Investment Advisers Act of 1940. Prior to joining the Commission in 2001, Dan worked for the Investment Adviser Association, FINRA, and the North American Securities Administrators Association. He received his B.S. from Penn State University, J.D. from Southern Methodist University, and LL.M. (Securities) from Georgetown University.

Valerie M. Baruch is Associate General Counsel of the Investment Adviser Association (IAA). Ms. Baruch joined the IAA in July 2006. From 1991 to 2006, Ms. Baruch was in private practice primarily representing investment companies and investment advisers with respect to regulatory and compliance matters. She practiced law at the Washington, DC office of Kirkpatrick & Lockhart (now K&L Gates) from 1991 to 2001, and at the Law Offices of Stephanie A. Djinis in McLean, Virginia from 2001 to 2006. She is a member of the District of Columbia Bar. She received her B.A., cum laude, from Colgate University, and she received her law degree from the University of Pennsylvania Law School.

Registration:

Registration for this event closed. To purchase a recording of this webinar, please complete and return a webinar recording payment form. If you have any questions, please visit the Registration FAQs page or contact the IAA events team at IAAEvents@investmentadviser.org or (202) 293-4222