The Custody Rule for Financial Firms

Why Should You Attend:

There have been significant deficiencies over the years since The Custody Rule was amended. It is imperative for Advisers to understand the rule and how to effectively manage and oversee the policies and procedures surrounding it in order to properly secure their clients’ assets and to avoid significant regulatory enforcement and penalties. We will analyse best practices for the financial services industry to take in regards to the regulatory or “The Custody Rule”.

In this webinar, we will explain the rule and the potential effect it may have on your firm and clients.

Learning Objectives:

• ‘The Custody Rule’ explained
• Determining if your firm has custody
• Compliance surrounding maintaining custody
• Surprise exam requirements
• Regulatory deficiencies
• Compliance testing surrounding custody, whether you have it or not.

Areas Covered in the Webinar:

• Rule 206(4)-2
• Custody defined
• Frequently asked questions
• We have custody, now what?
• Custody fees
• Client communication
• Internal forensic testing
• External forensic testing

Who Will Benefit:

• Audit
• Compliance Personnel
• Risk Managers
• Operations Managers
• Chief Operating Officers
• Attorneys
• Investment Management/Portfolio Managers
• Client Service Managers
• Accountants
• Chief Operating Officers
• Chief Executive Officers
• Financial Planners
• CPA Firms

Instructor Profile:

Lisa M. Marsden

Lisa M. Marsden, IACCP ®, is the President and Founder of Coulter Strategic Services. Coulter Strategic Services provides Financial Advisors and compliance consulting firms with compliance and project management services. Prior to that, Ms. Marsden was the Chief Operating Officer/Chief Compliance Officer of Financial Trust Asset Management, Boca Raton, Florida. She has been in the financial services industry for over 25 years. Ms. Marsden has a degree in computer programming from Keiser University, and holds the Investment Advisor Certified Compliance Professional Designation and Claritas ® Investment Certificate, issued through the CFA Institute.

She was the Chief Compliance Officer/Chief Technology Officer at Steinberg Global Asset Management, Boca Raton Florida and also held positions in the Banking Trust industry at Midlantic National Bank and Trust, Comerica Bank & Trust and Barnett Bank Asset Management. Ms. Marsden currently serves on the Board of the Financial Planners Association of Greater Fort Lauderdale and leads groups consisting of extremely intelligent Financial Professionals in Compliance and Technology.

Stacey Rodgers

Stacey Rodgers, CPA Focuses on audit and tax matters exclusively for the investment industry. So we spend 100% of our time training for and educating ourselves on issues you may encounter, immersing ourselves into industry trends, and developing strategies for current clients that may one day be adapted to help you. Working in your world day-in and day-out provides you with an incredibly efficient team and stellar client service.

Since joining the firm in 2007, Stacey has specialized in private company attest services and now exclusively focuses on the investment company industry, focusing on hedge funds and investment advisor audits. She is well-versed in accounting and financial reporting issues related to investment advisors and her clients look to her as an advisor on issues affecting their businesses. Furthermore, Stacey is involved in our surprise custody examination team to make sure Advisors are in compliance with the amended custody rule. Stacey is actively involved with staff scheduling and development as well as recruiting efforts for the Firm. Stacey attended Hiram College where she received her Bachelor of Science in Accounting and Financial Management. Additionally, she attended Bowling Green State University for her Masters in Accountancy. She is a member of the Ohio Society of Certified Public Accountants (OSCPA) and the American Institute of Certified Public Accountants (AICPA).

Topic Background:

SEC-registered investment advisers who have custody of their clients’ funds or are deemed to have custody of their clients’ assets under the rule must safeguard those assets as required by the SEC’s “custody rule. The custody rule is designed to provide additional safeguards for investors against the possibility of theft or misappropriation by investment advisers who are registered with the SEC.

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