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Our
Services
Compliance
Advisor Professionals, LLC (CAP) provides a wide range of services from
initial investment adviser registration to on-going investment adviser
compliance support. We offer up-to-date guidance on specific compliance
issues and keep you in conformance with investment advisory requirements and
SEC regulations. Whether we
help you register, or work with you on an ongoing basis, you can be assured
that we have the right industry experience, investment adviser compliance
expertise and awareness of regulatory requirements to meet all of your
compliance needs. CAP’s
services are designed to assist investment advisers understand and
streamline their compliance responsibilities.
Provided
below is a short summary of our services.
Please note, however, that this list is not all-inclusive, as we
customize our services to fit your firm’s individual investment adviser
compliance needs.
Investment
Adviser Registration
CAP
has the expertise necessary to effectively organize your investment adviser
registration. We help investment advisory firms every step of the way,
including preparing and filing the forms and documents needed to fully
comply with investment adviser regulatory requirements. Below is a summary
of our Investment Adviser Registration service*:
-
Preparation
and filing of Form ADV Part I and all applicable schedules through lARD;
-
Preparation
and filing (as necessary) of Form ADV Part II and Schedule F for use as
your client disclosure brochure;
-
Registration
of all investment advisory representatives through lARD (Forms U4);
-
Preparation
and submittal of all additional documents required by regulators;
-
Full
Compliance Program, including Compliance Manual, Code of Ethics and
Business Continuity Plan, as well as a Monthly Compliance Checklist;
-
Assignment
of a CAP consultant to answer questions throughout the registration
process.
*All
of the investment adviser registration services described above are also
available on an ala carte basis. (For
example, if your firm needs a Business Continuity Plan, we can provide that
individually, rather than bundled in a registration package.)
Ala
Carte Services
CAP
also offers a full suite of ala carte investment adviser compliance services
so that you can pick and choose the most efficient way to accomplish your
business objectives:
We
offer solutions that are customized for our clients’ business needs in all
areas related to investment adviser compliance, and investment adviser
registration. We are committed to providing each client with the personal
attention they expect and deserve. This means that we will take a look at your firm’s needs
and make recommendations targeted to your specific requirements. We will
help you understand the investment adviser regulatory requirements that you
must meet, steer you through the compliance process and the paperwork, and
draft documents individually customized to your firm so that you can meet
the investment adviser regulations levied by the SEC and the state in which
you do business.
Form
ADV Preparation, Filing and / or Reviews
Your
Form ADV needs to be accurate and current at all times.
CAP will prepare or review your Form ADV Parts I, II and Schedule F,
including disclosures of services, fees, sources of compensation, wrap fee
arrangements, material affiliations and any conflicts of interest, potential
or otherwise, and then provide suggestions for changes and additional
disclosures. back
Form
ADV Annual Amendment
Firms
are required to file an Annual Updating Amendment on the IARD within 90 days
of their fiscal year end. CAP can complete your annual amendment quickly and
efficiently. back
Registration
and Licensing Monitoring Service
CAP
offers a cost effective licensing and registration management and monitoring
service that includes registration and licensing of your firm and investment
adviser representatives with the SEC and States. We can prepare investment
adviser registrations quickly and efficiently, and our staff knows the
preferences and idiosyncrasies of many of the state regulators.
We
can also administer the annual IARD renewals of state registrations for
state advisers or notice filings for SEC advisers, as well as annual IARD
renewals of agents. back
Investment
Adviser Compliance Procedures Manual, including Monthly Compliance Checklist
The
Advisers Act requires all investment advisers to develop and implement
compliance programs. Such compliance programs must include written policies
and procedures reasonably designed to prevent violation of the Advisers Act.
Written
investment adviser compliance procedures should include, at a minimum, the
following areas:
-
Portfolio
management processes;
-
Trading
practices;
-
Personal
trading activities of supervised persons;
-
The
accuracy of disclosures made to investors, including information in Form
ADV and advertisements;
-
Safeguarding
client assets;
-
Creation
and maintenance of required records;
-
Marketing
advisory services, including the use of solicitors; and
-
Safeguards
for the protection of client records and information
Our
procedures are updated as needed throughout the year to reflect changes in
industry best practices. We also stay abreast of new SEC and State rules and
investment adviser regulatory requirements so that we only offer up-to-date
advice and ensure your firm is in compliance with new rules and regulations
as they occur.
As
part of the Compliance Manual, we also supply you with a Monthly Compliance
Checklist to help you streamline and manage your compliance responsibilities
throughout the year. back
Code
of Ethics
The
Advisers Act requires each federally registered investment adviser to adopt
and maintain a written code of ethics. The code of ethics sets forth a
standard for business conduct that the investment adviser adheres to and
requires of all persons under their supervision. The SEC sets forth
guidelines for the code of ethics.
Many
states follow the SEC guidelines for maintaining a written code of ethics
and have the same requirements as the SEC.
CAP
has developed a template Code of Ethics that is in compliance with the SEC
rule. back
Business
Continuity Plans
SEC
compliance requires that investment advisers maintain a Business Continuity
Plan as part of an effective Compliance Program. Business Continuity
Plans establish emergency preparedness policies and procedures in the event
of a significant business disruptions (SBD).
CAP
has developed a template for a Business Continuity Plan to help you comply
with the Rule and will assist you with the customization of the document.
back
Mock
SEC / State Examinations
As
a result of CAP’s active investment advisory practice, we see SEC comment
letters quite frequently. We have a pulse on the latest SEC exam focus, as
well as district office differences. CAP will examine your firm for
compliance with SEC requirements and, if requested, issue a confidential
report to management outlining our examination findings with recommendations
for corrective action. In addition, CAP will assist in creating solutions to
the issues identified in the examination. If your firm falls under state
regulation our examination will be designed to address the rules of the
applicable state(s). The examinations generally cover the following areas:
-
Form
ADV/Brochure Disclosure and Delivery;
-
Client
Agreements, including Solicitor Agreements and Disclosure Documents;
-
Portfolio
Management;
-
Brokerage
Practices, including Aggregation and Allocation Policies, Best Execution
and Soft Dollar Arrangements;
-
Compensation
/ Client Fees;
-
Custody
of Client Funds and Securities;
-
Advertising,
including Marketing/Performance Presentations and Website review;
-
Wrap
Fee Programs;
-
Internal
Controls;
-
Conflicts
of Interest;
-
Insider
Trading Policies;
-
Books
and Records;
-
Proxy
Voting Policies;
-
Business
Continuity Planning; and
-
Privacy
Policies. back
Off-site
Compliance Review
CAP
offers an off-site compliance review – similar to the Mock SEC Examination
described above. This service is offered to provide a cost effective
alternative to an on-site Mock Exam. CAP
will request certain documents, and upon review and discussion, issue a
confidential report to management outlining our examination findings with
recommendations for corrective action. In addition, CAP will assist in
creating solutions to the issues identified in the examination.
CAP
can help identify potential problems so that you have the time to correct
them before the regulators arrive. back
Advertising
/ Performance
Reviews
The
SEC and other regulators are placing increased focus on marketing and
performance information, including preparation, reporting and footnoting.
CAP will review your advertising and performance presentations, including
your website and performance data, and make recommendations for proper and
appropriate procedures and disclosures to bring you in line with SEC and
state investment adviser regulatory requirements. back
Annual
Compliance Reviews
The
SEC Compliance Program Rule requires each federally registered adviser to
review its compliance policies and procedures at least annually to determine
the adequacy and effectiveness of their implementation.
CAP
will assist your firm in conducting an annual compliance assessment and
prepare a report addressing the adequacy of your Compliance Program and any
risks or potential conflicts of interest. back
General
Consulting
We
understand the enormous demands made on today’s investment advisory firm
managers - time is money and both are valuable.
Our professionals have in-depth expertise in investment adviser
regulatory requirements and broad experience in the investment adviser
compliance industry. Let our team of professionals relieve your firm of the
unnecessary expense of training and maintaining in-house staff, and allow
you to focus on your core business objectives – marketing your business
and offering your clients high quality investment products.
When
you use our consulting services you will rest easy, secure in the knowledge
that your compliance obligations are being met and your firm is in full
legal compliance with investment advisor regulatory requirements.
CAP
provides the following investment adviser compliance consulting services:
•
Assistance
with compliance matters that may arise during the course of the business day
•
Research
and answers to specific investment adviser compliance questions
•
Research
and answers to specific investment adviser registration questions
•
Updates
on new and amended rules
•
Assistance
with monthly, quarterly and annual filing deadlines
•
Assistance
with marketing
•
Assistance
with review and analysis of regulatory inquiries (i.e., investigations,
audits, etc.) back
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