Inaccurate and/or inadequate Form ADV disclosures are consistently cited in the SEC’s and many states’ list of “Top Deficiencies.” In this session, experts will systematically walk through Form ADV Part 1 and examine disclosure requirements that impact all advisers (including private fund advisers). This session will also review the method of calculating “regulatory assets under management (RAUM),” re-examine the changes to the ADV Part 1A that became effective in 2018 and discuss how the SEC’s new custody guidance on first- and third-party transfers should be reflected on Form ADV. Finally, your instructors will provide guidance on correlating the information reported in Form ADV Part 1 to disclosures in Form ADV Part 2.
After attending this course, attendees should be able to:
- Compile and analyze the new information required by the Form ADV amendments in order to have an accurate Annual Amendment.
- Identify and avoid common Form ADV Part 1 mistakes
- Scrutinize your firm’s practices for first- and third-party asset transfers to accurately answer custody questions under new SEC guidance.
- Calculate Regulatory Assets Under Management (RAUM), using Form ADV instructions
- Establish a team approach to develop and maintain a Form ADV Part 1 that complies with current regulations and is consistent with your firm’s Form ADV Part 2, policies and procedures, advisory contracts, client communications and advertising
- Isolate areas of potential conflicts of interest to alert and remind advisory firm employees of potential risk
