{"id":583,"date":"2009-10-10T13:22:34","date_gmt":"2009-10-10T13:22:34","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2009\/10\/nasaa_releases_investment_advi"},"modified":"2022-03-09T15:57:16","modified_gmt":"2022-03-09T21:57:16","slug":"nasaa-releases-investment-advi","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/nasaa-releases-investment-advi\/","title":{"rendered":"NASAA Releases Investment Adviser Best Practices To Improve Compliance"},"content":{"rendered":"<p>\t\t\t\tThe North American Securities Administrators Association has updated its best practices for investment advisers. The best practices were developed after a series of exams revealed several problem areas. <\/p>\n<p>458 state-level investment advisers took part in examinations between January and May 2009. Some 1,887 deficiencies in 13 compliance areas, including the areas of books and records, registration, supervision, unethical business practices, and financials, were found.<\/p>\n<p>NASAA President Denise Voigt Crawford says the best practices should help strengthen internal compliance programs. This will hopefully decrease the chances of regulatory violations (that can lead to <a href=\"https:\/\/www.investorlawyers.com\/\">securities fraud<\/a>) while helping investment advisers provide better client services and meet compliance challenges. <\/p>\n<p><strong>NASAA Best Practices Recommendations for Compliance Procedures and Practices:<\/strong><\/p>\n<p>\u2022\tUpdate contracts.<br \/>\n\u2022\tRevise and update the disclosure brochure and form ADV every year.<br \/>\n\u2022\tBack up information that is stored electronically.<br \/>\n\u2022\tEnsure records are protected.<br \/>\n\u2022\tPrepare and maintain financial records, other mandatory records, and client profiles.<br \/>\n\u2022\tDevelop a manual of relevant, written compliance and supervisory procedures.<br \/>\n\u2022\tMake sure financials are always accurate.<br \/>\n\u2022\tEach year, prepare and send out a current privacy policy.<br \/>\n\u2022\tIf necessary, maintain surety bond.<br \/>\n\u2022\tIf applicable, put into place the proper custody safeguards.<br \/>\n\u2022\tEnsure that all advertisements are accurate.<br \/>\n\u2022\tLook at disclosures, solicitor agreements, and delivery procedures.<\/p>\n<p>At this time, state regulators are in charge of overseeing investment advisers who manage under $25 million. The Securities and Exchange Commission supervises investment advisers who manage over $25 million. NASAA is seeking to increase state oversight to include investment managers who oversee assets of up to $100 million. The Financial Industry Regulatory Authority also wants to expand its investment adviser authority. <\/p>\n<p><strong>Related Web Resources:<\/strong><br \/>\nState inspectors find fewer problems among investment advisers, Investment News, September 29, 2009<br \/>\nNASAA Outlines Best Practices For Investment Advisers, NASAA.org  <a href=\"https:\/\/www.investorlawyers.com\/blog\/nasaa-releases-investment-advi\/#more-583\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The North American Securities Administrators Association has updated its best practices for investment advisers. The best practices were developed after a series of exams revealed several problem areas. 458 state-level investment advisers took part in examinations between January and May 2009. Some 1,887 deficiencies in 13 compliance areas, including the areas of books and records, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3870],"tags":[],"class_list":["post-583","post","type-post","status-publish","format-standard","hentry","category-nasaa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NASAA Releases Investment Adviser Best Practices To Improve Compliance &#8212; Investor Lawyers Blog &#8212; October 10, 2009<\/title>\n<meta name=\"description\" content=\"The North American Securities Administrators Association has updated its best practices for investment advisers. The best practices were developed after a &#8212; October 10, 2009\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/nasaa-releases-investment-advi\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NASAA Releases Investment Adviser Best Practices To Improve Compliance &#8212; Investor Lawyers Blog &#8212; October 10, 2009\" \/>\n<meta name=\"twitter:description\" content=\"The North American Securities Administrators Association has updated its best practices for investment advisers. The best practices were developed after a &#8212; October 10, 2009\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NASAA Releases Investment Adviser Best Practices To Improve Compliance &#8212; Investor Lawyers Blog &#8212; October 10, 2009","description":"The North American Securities Administrators Association has updated its best practices for investment advisers. 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