Just tooting my own horn today. I finally fulfilled the requirement to become an Investment Adviser Certified Compliance Professional®.
With the SEC’s registration requirement for private fund managers, I took a closer look at what the SEC requires for compliance professionals. Rule 206(4)-7 imposes no particular requirements on a chief compliance officer. The SEC release for the rule provides a bit a more context on the professional background requirements:
“An adviser’s chief compliance officer should be competent and knowledgeable regarding the Advisers Act…”
I looked at several compliance programs but decided the Investment Adviser Certified Compliance Professional Program co-sponsored by the Investment Adviser Association and National Regulatory Services would be the best choice.
I assume this certification and designation would give me the right to say I am “competent and knowledgeable regarding the Advisers Act.”
The program is a lot of work: 20 courses and a test. The test was hard. I did not feel confident that I had passing marks when I handed it in. But apparently I did.
This was my lineup of courses, all of which were well run:
- Introduction to the Advisers Act
- Books and Records Requirements for Investment Advisers
- Insider Trading, Contracts and Form ADV Deilvery Req.
- Understanding Fiduciary Duties, Sweep of Anti-Fraud Prov
- Custody, Pay to Play, Solicitors and Proxy Voting Anti-Fraud Rules
- Compliance Programs Rules
- IA Codes of Ethics
- Prof. Ethics: Ethical Decision-Making for Compliance
- Form ADV Part 1- Annual Updating Amendment and More
- Form ADV Part 2: Identifying and Disclosing Conflicts-
- Critical Skills for High Performance Compliance Profes
- Investment Adviser Performance and Advertising
- Investment Adviser Regulatory Update
- Anti-Money Laundering Risk Management and Monitoring
- Safely Embracing the Power of Social Media
- Defensible Due Diligence for Investment Advisers and Hedge Funds
- A Tailored Compliance Testing Program for IAs
- SEC Examinations for Investment Advisers
- Trading Practices, Portfolio Compliance and Related Enforcement Cases
- RIA Year-End Compliance Check-Up
More on the Investment Adviser Certified Compliance Professional Program.
Doug, Congratulations on receiving this designation! The program is a focused and thorough examination of the SEC’s investment advisers regulatory scheme, and requires that recipients take 12 hours of continuing education annually to maintain. Thanks so much for calling attention to this designation.
In the interest of full disclosure, I also have the IACCP designation, and was in the first group to receive it.