AIMR/CFA Institute

Got Plans for the Summer?

The next Division of Investment Management director is nowhere in sight. The confirmation of Rep. Christopher Cox (R-CA) as the new SEC Chairman could take months. There doesnt seem to be any rulemaking on the brink of adoption, and there are no new scandals making headlines. Could the summer of 2005 give CCOs a much-needed […]

CFA Institute Releases Compensation Survey

A compensation survey recently issued by the CFA Institute and Russell Reynolds Associates shows that compensation for U.S.-based investment professionals has risen by 17 percent since 2003. Most in demand: chief administrative or operating officers. “Driven by increased regulatory pressures and an industry emphasis on compliance, the quality CAO/COO is on this years most wanted list, […]

CFA Institute Finalizes Model Code of Professional Conduct

The CFA Centre for Financial Market Integrity, an offshoot of the group formerly known as AIMR, has issued the final version of its Asset Manager Code of Professional Conduct. The CFAs code is broader than a traditional code of ethics, covering substantive topics such as best ex, soft dollars, trade allocations, business continuity, fair value pricing, […]

AIMR-PPS Standards to Vanish in Less Than a Year

Firms that hold themselves out as AIMR-PPS compliant have less than a year to bring themselves in line with the new GIPS standards, adopted earlier this month by the CFA Institute (formerly AIMR). The new “Gold GIPS” apply to all presentations that include performance for periods after December 31, 2005. Moreover, after January 1, 2006, […]

Wrap Managers Performance: What About Rule 204-2(a)(16)?

Troubled by the CFA Institutes recent wrap guidance statement? If shadow accounting, getting access to the wrap sponsors account records, and redefining the firm to exclude wrap accounts arent an option, an adviser can simply choose not to be AIMR compliant. In fact, some advisers already have gone that route, according to one expert in the […]

CFA Institute Wrap Guidance Statement Viewed as Unworkable

Unrealistic. Unreasonable. Impractical. Those were some of the adjectives sprinkled throughout the Investment Counsel Association of Americas December 30 comment letter on the CFA Institutes (formerly AIMR) proposed guidance statement on wrap fee performance. “Advisers will not be able to comply with the recordkeeping requirements,” said the ICAA, “and certainly not by the compliance date.” […]

ICAA Comments on CFA Institute Proposed Code of Ethics

When it comes to ethics, were doing just fine under the Advisers Act, thank you very much. That was the message delivered in the Investment Counsel Association of Americas January 5 comment letter to the CFA Centre for Financial Market Integrity (an offshoot of the group formerly known as AIMR), on the group’s proposed Asset Manager Code of […]

Error Correction Guidance

The CFA Institute (formerly AIMR) recently released a new guidance statement on error correction. The statement, which focuses on errors in preparing performance-related information, suggests that firms adopt written error correction policies and procedures and prospectively define what will be considered a “material” error (for purposes of determining whether the error must be reported to […]

New CFA Institute Model Code May Help Advisers Drafting Code of Ethics

Heres another source of ideas for drafting your firms personal trading code of ethics: The CFA Institute (formerly AIMR) last week issued a draft “Asset Manager Code of Professional Conduct.” Based on the groups code of ethics and professional standards for individual CFA holders, the new code is designed to be applied at the firm, […]

CFA Institute Issues New Guidance Statement on Wrap Fee Accounts

Its baaaack . . . .After being told that its June 2002 wrap fee guidance statement did not make “practical business sense” and would impose “unreasonable burdens” on advisers, the CFA Institute (formerly AIMR) has come up with a new proposed “Guidance Statement on Wrap Fee/Separately Managed Account Performance.” Comments are due by December 31. […]

Audio Interviews

How to Read an SEC Enforcement Action

Stern Tannenbaum law firm partner Aegis Frumento on how to get the most from reading an SEC administrative order or court complaint.

Most Important Supreme Court Decisions for Advisers and Funds

Find out the high court decisions from recent years that are likely to affect how advisers and investment companies work from Debevoise partner Robert Kaplan. 

Top 10 Cybersecurity Steps to Take Now

Sutherland law firm partner Brian Rubin shares the most urgent cybersecurity steps for investment advisers.

Top Marketing Problems … and Solutions

Get solutions for the top marketing challenges that advisers face from ACA Compliance Group managing director Kimberly Daly

Watch Out for 5 Cybersecurity Myths

ACA Aponix Director Pascal Busnel on the most common cybersecurity myths that may cause firms to spend resources where they may not be needed.

The Hidden Costs of Non-Compliance

Proskauer law firm partner and former SEC Division of Investment Management deputy director Robert Plaze on why the costs of non-compliance go way beyond an SEC penalty.

CCO Liability: How to Protect Yourself

Find out from Blue Edge Capital CCO Margaret Fretz what chief compliance officers may be liable for and best practices to make sure you are protected.

Ethics or Compliance: Making the Choice

Find out the difference an ethics, rather than a compliance, perspective makes at an advisory firm from former Ethics and Compliance Officer Association COO Timothy Mazur.