Compliance is a unique profession. Unlike countless other career paths, there is no college degree or internship to help you train for the position. Instead, many often find themselves “falling into the role,” having been identified as someone with the qualities that typically make a good CCO.
That doesn’t mean, however, that there aren’t any educational resources out there to help you bolster your capabilities and ramp up your career.
In fact, COMPLY’s Investment Adviser Certified Compliance Professional® (IACCP®) Program, which is co-sponsored by the Investment Adviser Association, is one of the premier educational programs for compliance professionals.
Today, we sit down with Miriam Frolow, COMPLY’s Director of Education, to discuss the program, its benefits, and more.
To start off, Miriam, can you tell our readers a little about both programs?
COMPLY offers two professional development programs for compliance officers in the investment adviser industry, including those at investment adviser firms, broker-dealers, and private fund firms. The first is the Investment Adviser Certified Compliance Professional® (IACCP®) Program, a recognized designation for compliance professionals wanting to certify their knowledge of investment adviser regulatory obligations and gain additional competence in trading, regulatory mandates, disclosures, and other current regulatory priorities. The IACCP designation provides credibility for career advancement and helps to ensure the ongoing success of a firm’s compliance program.
For compliance professionals that may be new to the industry and those wanting to first solidify their foundational knowledge of the Advisers Act of 1940 and related rules, COMPLY also offers the Investment Adviser Core Compliance (IA Core) Program. The IA Core program represents the first half of the IACCP program and can be used as a steppingstone toward earning the IACCP designation or as a standalone program.
What are the requirements to earn the IA Core Certificate? What about the IACCP Designation?
Candidates in the IA Core Program receive the Certificate of Achievement after completing 10 required courses that focus on the Advisers Act of 1940, Disclosures, and Ethics, as well as an Ethics Assessment. This program should be completed within 12 months, with most finishing in 3-6 months.
In addition to completing the same requirements as the IA Core candidates, the IACCP candidates must complete an additional 7 required courses in Trading, Mandates, the Investment Adviser Marketing Rule, as well as 3 electives of their choosing. They have 18 months to complete the 20 courses before taking the certifying IACCP Examination, although many finish in less time. Two other requirements include the submission of the ethics commitment and two years of work experience in investment adviser compliance.
Note: The work requirement can be completed while also completing the coursework; it is not a prerequisite to starting the IACCP program.
Are these programs just for CCOs?
Not at all. Both programs are open to compliance professionals at all levels from those that are new to compliance to seasoned executives who want to acquire a deeper understanding of the regulatory changes impacting their firms.
What are some of the common benefits that professionals gain from both programs?
Career advancement is a key benefit to pursuing the IACCP designation. People don’t pursue a degree in compliance. Compliance professionals are often financial advisors or lawyers who found a career path into compliance. Pursuing and maintaining the IACCP designation through ongoing continuing education activities not only highlights a continued investment in the compliance profession (something both regulators and potential new employers often look for), it also ensures you are always on top of your game when it comes to new rules, requirements, and general updates within the regulatory landscape. In fact, we have heard from many IACCP Designees that their investment in this professional development program has contributed to their career advancement.
Another benefit is having the opportunity to network with other compliance professionals at investment adviser, broker-dealer, and private fund firms. It is common to find the sharing of best practices and ways to implement regulatory changes in addition to connecting with industry leaders and hearing about job opportunities. COMPLY hosts an IACCP group on LinkedIn and runs an IACCP Designee Roundtable to ensure that the members of this unique community stay connected.
What topics do the IACCP/IA Core courses cover?
Examples of topics covered in required courses include books and records requirements, understanding fiduciary duties, data protection, insider trading, anti-fraud rules, Form ADV, and trading compliance challenges.
Elective topics in 2025 will include Managing Technology for Traditional and Off-Channel Communication; Preparing for New AML Requirements for RIAs; Regulation S-P and Information Security Updates: Evolving Regulatory Framework, Industry Expectations and Accompanying Challenges; Vendor Due Diligence with or without the Outsourcing Rule; Compliance Considerations: Elder Investors and Financial Exploitation; and RIA Year-End Compliance Check-up.
Beyond webinars, can you tell us a little about the events you have planned for 2025?
In addition to 40 webinars planned in 2025, we will have one in-person and three virtual symposia. Each symposium enables IACCP and IA core candidates to fast track through the curriculum by registering for up to 10 sessions in four days, and IACCP Designees to attend for CE credits. The first IA Core Program Symposium will be on February 4-7.
The in-person IACCP Program Symposium will be at the University of Chicago Gleacher Center on May 13-16. This annual event includes opportunities to socialize and enjoy downtown Chicago after the day’s sessions ends.
The COMPLYConnect Conference & Expo is being planned for the fourth quarter of 2025. We look forward to sharing more information with everyone once it is finalized.
What other continuing education credits are attendees able to earn during webinars and events?
The IACCP events and COMPLYConnect are designed to meet criteria for continuing education credits for compliance professionals, CPAs/accountants, attorneys and other professionals. The COMPLY is an approved provider of CPE, CLE, and CFP credits.
How can our readers learn more about the programs?
More information can be found on the COMPLY website or by contacting us at nrstraining@comply.com.
Ready to enroll? Sign up today.