August 13, 2020 Alert

Hi all,

Below are this week’s alerts for the Investment Network.  Enjoy! 

This Issue’s Topics:

  • JOB OPPORTUNITY: Chief Compliance Officer
  • Grant Thornton & Stradley Ronon: Are 401(k) Funds an Opportunity Private Equity Funds Should Pursue?
  • NRS: Mandates Beyond the Advisers Act: Anti-Money Laundering, ERISA Compliance and ’34 Act Section 13 Reporting for Investment Advisers
  • ACG Chicago: “Your Virtual Presence” & Networking
  • 100 Women in Finance Global Webinar: The Dynamics of Economic Recovery After the COVID-19 Crisis
  • Hedge Fund Association Charity Event: “All-In” for MS Virtual Poker Event
  • ICI Webinar: Achieving Operations Excellence: The Power of Transformation

Job Opportunities:

Chief Compliance Officer
Investment Bank Based in Chicago

Role Description:

  • Ensure compliance with FINRA and SEC regulation
  • File regulatory findings in the U.S. and respond to inquiries from U.S. regulator
  • Lead all regulatory audits, including conducting annual internal compliance audits
  • Meet with Global Regulators (FINRA/SEC) on exams and other regulatory matters
  • Assess regulatory risk and liaise with regulatory counsel on SEC and state broker-dealer registration requirements
  • Implement Anti-Money Laundering, Foreign Corrupt Practices Act and Know Your Customer program

Role Requirements:

  • At least 7 years’ experience in compliance within Investment Banking
  • Completion of FINRA tests preferred
  • Experience dealing with highly confidential business matters and making compliance decisions aligned with risk assessment
  • Team oriented
  • Juris Doctor preferred

If interested, please contact Chase Scottland at (work) 646.693.2366 or (mobile) 516.301.7582.


Grant Thornton & Stradley Ronon: Are 401(k) Funds an Opportunity Private Equity Funds Should Pursue?
Tuesday, August 18, 2020, 12:00-1:00 P.M. CDT

The U.S. Department of Labor (DOL) issued important new guidance for 401k plan investment committees on June 3 that want to include private equity as a component of a target date fund or other diversified investment fund offered within a 401k plan. For decades, institutional investors including defined benefit pension plans, endowments and foundations have long included investments in private equity (PE) as part of a diversified portfolio. Fiduciaries of defined contribution (e.g., 401k) retirement plans, however, have been reluctant to add the asset class to their plans for fear of running afoul of legal and regulatory hurdles. The Information Letter from the DOL is important because it gives fiduciaries more legal certainty if they want to consider additional asset classes as part of a diversified 401k investment option.

Join Grant Thornton and Stradley Ronon Stevens & Young for a live webcast discussion and Q&A of notable challenges and opportunities, including tax, legal and regulatory implications for PE.

We’ll discuss:

  • Pros and cons of taking in 401k plan dollars
  • Potential competitive advantage of including PE for plan sponsors
  • DOL guidance and structural considerations

Speakers include Michael Patanella, Bob Dunne and Judd Wright of Grant Thornton LLP and George Michael Gerstein and  John P. Hamilton of Stradley Ronon Stevens & Young.

To register, click here.

NRS: Mandates Beyond the Advisers Act: Anti-Money Laundering, ERISA Compliance and ’34 Act Section 13 Reporting for Investment Advisers
August 18, 2020, 12:00-2:00 P.M. CDT

While the Investment Advisers Act of 1940 includes most of the rules and regulations an advisory firm needs to abide by to be compliant, other regulations affect advisory firms in significant ways and must be considered. This course surveys anti-money laundering, basic ERISA compliance for advisers and ’34 Act Section 13 reporting requirements for advisers – mandates that every advisory firm needs to understand and might need to incorporate into its compliance program.

  • The focus of the first topic of this session is a survey of basic Employee Retirement Income Security Act (ERISA) compliance for investment advisers. This session will provide an overview of the essential definitions and concepts upon which ERISA is based, and how the new rule has expanded these concepts beyond pension plans to IRAs, HSAs, certain 403(b)s, etc. It will then provide guidance to help you begin planning how your firm will adapt to them.
  • The focus of the second topic of this session is anti-money laundering (AML) for investment advisers. While there is no current rule requiring that IA firms establish an AML program, that may soon change. In 2015 the US Treasury Department proposed rules that would require IAs to have AML programs. Moreover, even in the absence of such a rule, the SEC highly recommends that IAs design and enforce an AML compliance program appropriate to the adviser’s risks.
  • AML experts will help you understand the new rule and let you know their thoughts on whether and/or when it may be adopted. In addition, they will help you develop a firm grasp of the underlying principal of AML compliance and aid you in evaluating the comprehensiveness of your current AML risk assessment by:
    • suggesting areas that may have been overlooked
    • helping you understand how due diligence and documentation lend credibility to your organization’s risk assessment; and
    • providing guidance in creating a sound written risk assessment summary.

 The focus of the third topic of this session is a summary of Section 13 disclosure requirements under the Securities Exchange Act of 1934 and the applicability of these filings to certain investment advisers.

Instructors will be Nicole Kalajian of Stradley Ronon and Drew Ahrens of NRS.  For more information, click here.

ACG Chicago: “Your Virtual Presence” & Networking
Tuesday August 18, 2020, 4:00-5:00 P.M. CDT
@Zoom Meeting

Don’t miss this opportunity to learn how to be your best virtual self-followed by an intimate networking session with your peers!  Join ACG Chicago’s Women’s Network of dealmakers and business leaders to discuss tips and tricks to make your virtual meetings more effective.  A networking session will follow our discussion allowing you to connect with other women from across the middle-market sector.

To register, click here.

100 Women in Finance Global Webinar: The Dynamics of Economic Recovery After the COVID-19 Crisis
Wednesday, August 19, 2020, 7:00 A.M. CDT

The COVID-19 crisis wreaked havoc across nations and the global economy. Many economists fear that certain industries will not survive a second viral wave, while others will flourish, creating structural shifts that will change the course of the world.

Consider what lies ahead for the Asia-Pacific region, as Tuuli McCully, Head of Asia-Pacific Economics, Scotiabank addresses key issues, including:

  • the dynamics of economic recovery after the COVID-19 crisis
  • regional economic outlook for 2021
  • risks to the outlook
  • US-China relations ahead of the US presidential election in November

Please email your questions to by Monday, 17 August 2020.

For more information, click here

Hedge Fund Association Charity Event: “All-In” for MS Virtual Poker Event
Thursday, August 20, 2020, 6:30 P.M. CDT

Please join us for a fun night of virtual poker for charity, with 100% of the proceeds benefiting the National MS Society (NMSS), a movement by and for people living with MS. Today, the MS movement stands to lose $60 million in funds due to the COVID-19 crisis, but financial contributions – from donors like you – will enable the NMSS to keep moving forward in their efforts to make a difference in the lives of people with MS.

Nearly one million people living with MS face unique challenges in the wake of unexpected events. Your participation in this special HFA event will help the NMSS adapt to meet the changing needs of people with MS now, during times of uncertainty, and always.

This special event is limited to only 100 players. Registration is $150 per person.

To register, click here.

ICI Webinar: Achieving Operations Excellence: The Power of Transformation
Wednesday, September 23, 2020, 1:00-2:00 P.M. CDT

Join ICI Chief Industry Operations Officer Marty Burns as he engages Nancy Wiser, global head of operations at Wells Fargo Asset Management, in an insightful conversation about achieving operations excellence and efficiencies. Topics will include:

  • Responding to COVID-19 pandemic workplace challenges
  • Core competencies, competitive advantages, and what lies ahead
  • Digitization, data lakes, and dashboards
  • Managing customization and bespoke models
  • Providing a consistent service experience across multiple pooled product types, separate accounts, UCITS, and more
  • The evolution of fund board interest in operations and technology

Participants will have the opportunity to ask questions throughout the webinar. Questions also may be submitted in advance during the webinar registration process.

For more information, click here.

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