3f. IA LAB - Compliance Testing and Surveillance for Advisers (Intermediate - CLOSED)
Rule 206(4)-7 requires advisers to periodically monitor and test policies and procedures to assess the adequacy and effectiveness of their compliance program. Effective monitoring and testing require careful planning, effective deployment, and the ability to adapt to various circumstances. In this lab, participants will take a hands-on learning approach to designing and implementing an effective testing and surveillance program.
This session is closed to both regulators and members of the press.
Learning Objectives:
Develop a compliance control framework of testing, monitoring, and surveillance; understanding when to test, what to test, who should test, and how to test.
Design appropriate tests on specific risk areas, and discuss nuanced approaches to testing for areas designated as a priority by the SEC Division of Examinations, including marketing practices, oversight of third-party providers, and reporting on Form PF.
Determine the strengths and weaknesses of various testing methods in an interactive group setting.
Share best practices for using the results in annual reviews, training, and follow-up.
