Securities Activities of Banks in the GLB Era - Cleary Gottlieb Steen ...
Securities Activities of Banks in the GLB Era - Cleary Gottlieb Steen ...
Securities Activities of Banks in the GLB Era - Cleary Gottlieb Steen ...
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(iii) NASAA News Release, September 13, 2005,<br />
recommended best practices for <strong>in</strong>vestment advisers to<br />
improve <strong>the</strong>ir compliance practices and procedures,<br />
<strong>in</strong>clud<strong>in</strong>g (A) review<strong>in</strong>g and revis<strong>in</strong>g Form<br />
ADV/disclosure brochure to reflect current and<br />
accurate <strong>in</strong>formation, (B) review<strong>in</strong>g and updat<strong>in</strong>g<br />
advisory contracts, (C) ma<strong>in</strong>ta<strong>in</strong><strong>in</strong>g a written<br />
supervisory procedures manual, (D) prepar<strong>in</strong>g and<br />
(iv) regularly distribut<strong>in</strong>g a privacy policy, (E) accurate<br />
recordkeep<strong>in</strong>g, (F) ma<strong>in</strong>ta<strong>in</strong><strong>in</strong>g any required surety<br />
bond, (G) prepar<strong>in</strong>g and ma<strong>in</strong>ta<strong>in</strong><strong>in</strong>g client pr<strong>of</strong>iles,<br />
(H) calculat<strong>in</strong>g and document<strong>in</strong>g fees correctly, (I)<br />
review<strong>in</strong>g and revis<strong>in</strong>g advertisements, and (J)<br />
implement<strong>in</strong>g custody safeguards.<br />
Robert L. Tortoriello<br />
CLEARY GOTTLIEB STEEN & HAMILTON LLP<br />
Tel. No.: 212-225-2390<br />
Fax No.: 212-225-3999<br />
E-mail: rtortoriello@cgsh.com<br />
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