The Securities Compliance Podcast Season 3 Episode 14 - The State of the Investment Adviser Industry 

Podcast

Securities Compliance Podcast: Compliance in Context

On Episode 14 of Season 3 of the Securities Compliance Podcast: Compliance in Context, host Patrick D. Hayes is joined by Karen Barr from the Investment Adviser Association and Lisa Crossley from the National Society of Compliance Professionals. During the interview, the group discusses what’s happening in the investment adviser space, the rich history of both organizations, more recent DE&I efforts in the industry, and what has helped these women become the fantastic leaders they are today.

In the Headlines section, Patrick examines the recent criminal indictment of FTX founder Samuel Bankman-Fried and some recent comments from Commissioner Peirce on ESG. Finally, he wraps up the show with another installment of History Has Your Back, where we examine an old Navajo tradition that might help us polish the experiences over the last year and provide us with some perspective as we look toward 2023.

Season 3, Episode 14 Topics:

Headlines

• DOJ, SEC and CFTC Charge FTX and Founder with Fraud (criminal indictment, SEC Complaint, CFTC Complaint)

• SEC Commissioner Peirce Criticizes SEC's Climate Disclosure Proposal

Interview with Karen Barr and Lisa Crossley

• What is the mission and purpose of the IAA?

• What is the mission and purpose of the NSCP?

• Discuss the state of the registered investment adviser industry and the Investment Adviser Industry Snapshot 2022

• Review key metrics from the survey and how the investment adviser industry has grown significantly over the past few years

• Given some of these trends, how do you see the investment adviser industry evolving in the future?

• Review the impact and focus of DEI initiatives within each organization and within the industry

• How did you get to the position you’re in now?

• What is some advice you would give to other women in our industry looking to take on leadership roles within their own organizations?

Final Segment – History Has Your Back

• Examining the old Navajo tradition of polishing turquoise and how it can impact the way we view our past experiences and lead us toward a brighter tomorrow

Quotes

11:00 - “The Investment Advisor Association is the leading association, advancing the interests of fiduciary investment advisory firms. And I do say ‘firms’ because we’re a trade administration. Our members represent the broader universe, both asset managers and RIAs, and they range in size from some of the largest asset managers in the world to the smaller five- and ten-person shop that really make up the core of our industry, and everything–everything–in between.” – Karen Barr

15:58 - “The mission of NSCP is to create a diverse professional community for compliance, by compliance. And I’m often asked, ‘What does that motto for compliance by compliance mean?’ NSCP is a 501C6 organization. It’s a membership organization versus the IAA, which is a trade organization…The ‘For compliance, by compliance’ comes from the fact that [the NSCP] is offering resources to compliance professionals, whether that’s conferences, webinars, forums, committees, our monthly publication, our ability to speak at our events…It is compliance professionals who help with all of those initiatives.” – Lisa Crossley

---

About the Securities Compliance Podcast: Compliance in Context

Introducing the Securities Compliance Podcast: Compliance in Context presented by Calfee, Halter & Griswold and the National Society of Compliance Professionals and hosted by Patrick D. Hayes, Partner and leader of Calfee's Investment Management practice.

Designed as a personal master class for the securities legal and compliance professional, this podcast embodies Patrick’s passion to help you put Compliance In Context™ by combining the technical expertise of industry thought leaders and innovators with the practical experience of doers and key decision makers.

Listeners will find the podcast on Apple Podcast, Google Podcast, Spotify and Stitcher.

---

The opinions expressed by guest speakers and panelists during Securities Compliance Podcasts may not necessarily reflect the viewpoints of the attorneys and professionals of Calfee, Halter & Griswold LLP or its subsidiaries or affiliates. Calfee’s educational content is intended to inform and educate readers about legal developments and is not intended as legal advice for any specific individual or specific situation. Please consult with your attorney regarding any legal questions you may have. With regard to all content including case studies or descriptions, past outcomes do not predict future results.