Overview
This session will consist of two parts. The first will focus on SEC Examination Updates with Louis Gracia, Associate Director from the Chicago Regional Office at 2:00 – 3:00 p.m. The second will focus on Third-Party Due Diligence at 3:00 – 4:00 p.m.
Speakers:
- Nickie Oathout – Consultant with COMPLY
- Debby Eades – Shareholder with Vedder Price P.C.
Third-Party Due Diligence Course Description
3:00 – 4:00 p.m. (CT)
Outsourcing certain aspects of an investment adviser’s business has many benefits, from financial to operational efficiencies. However, at the same time, outsourcing imposes additional fiduciary, supervisory, and operational considerations that may offset the savings gained by outsourcing. In October 2022, the SEC introduced a new antifraud rule (the Vendor Oversight Rule) that will require advisers to implement and document their due diligence process for initial approval and continued use of outsourced services and advisory functions considered covered. This session will explore the impact of the new proposed rule, due diligence considerations, practical approaches to due diligence, and advisers’ supervisory responsibility.
Learning Objectives:
- Understand the impact of the proposed SEC Vendor Oversight Rule
- Practical approaches to due diligence and ongoing supervision
- Gain insight on the areas of focus during due diligence
Continuing Education Credits
Recommended CPE Credit: 1 in the Regulatory Ethics field of study
Recommended IACCP® CE Credit: 1
Recommended CA MCLE Credit: 1
