Investment Adviser Association

Most investment advisers are small businesses. In 2023, 92.7% of advisers had 100 or fewer non-clerical employees, and 69.3% managed less than $1 billion in assets, while 88.0% managed less than $5 billion. Read more: https://lnkd.in/eW48JzRS

The U.S. Securities and Exchange Commission released their exam priorities last week, including fiduciary duty, effectiveness of compliance programs, cybersecurity, and artificial intelligence. On November 15, join the IAA Legal Team as we discuss what advisers can expect with these priorities. https://lnkd.in/eQb4dDfU

IAA membership provides unparalleled access to industry experts, helping you to navigate complex regulatory and compliance challenges, all included in your annual membership dues. Have compliance or regulatory questions, or do you want to benchmark how other firms are handling an issue? The IAA's legal and compliance experts will quickly become your go-to resource. Ready to enjoy the perks of belonging to the premier membership organization for fiduciary investment advisers? Join the IAA and tap into expert guidance whenever you need it. https://lnkd.in/eqW6GaqE

The most important item an adviser stewards may be a client’s personal data, which, if misappropriated, can significantly harm a client. This Compliance Corner article by Casey Jennings and Paul Miller, partners at Seward & Kissel LLP , discusses privacy and cybersecurity regulatory obligations of investment advisers related to client disclosures; written policies and procedures; and preparedness, response, and notification. 

Only two more chances remain to join the IAA, industry experts, and SEC officials for a deep dive into cybersecurity, AI, the Marketing Rule, and more. Will we see you in San Francisco or Chicago in December?

The U.S. Securities and Exchange Commission's Division of Examinations announced its fiscal year 2025 examination priorities. Significant areas of focus for investment advisers include adherence to fiduciary standards of conduct, effectiveness of advisers' compliance programs, cybersecurity, and AI. The IAA will hold a briefing webinar for members on the exam priorities at 1:00 p.m. ET on November 15. Stay tuned for registration information.  

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What issues are advisers seeing in examinations when it comes to recordkeeping and off-channel communications? Adam Reback of Optima Partners says that the communications platforms used by advisers are being questioned in most examinations.

When it comes to focusing on the unique needs of fiduciary investment advisers, the IAA stands alone. We are the only organization exclusively dedicated to advancing your interests, providing critical advocacy and support for the issues that matter most to your firm. Not a member yet? Join the IAA today and gain access to the resources and advocacy tailored for fiduciary investment advisers: https://iaa.today/join

Headed to COMPLY's #COMPLYConnect event next week? Be sure to catch Karen Barr's session on what's happening in D.C.