Free RIA Compliance Checklist

I. Compliance Program Overview

This RIA Compliance Checklist Template aids [YOUR COMPANY NAME] in meeting regulatory standards as a Registered Investment Adviser (RIA), fostering client trust and compliance. It covers crucial areas like registration, client disclosures, oversight, advertising, privacy, recordkeeping, training, and business continuity. Customization ensures seamless compliance with [YOUR COMPANY NAME]'s protocols.

• Review existing compliance policies and procedures.

• Assign a compliance officer responsible for overseeing compliance efforts.

• Establish a clear timeline for implementing compliance measures.

• Regularly review and update compliance efforts.

II. Registration and Licensing

• Ensure registration with the appropriate regulatory bodies (e.g., SEC, state securities regulators).

• Maintain required licenses and qualifications for investment advisory services.

• Renew registrations and licenses as necessary to remain in compliance.

III. Code of Ethics and Standards of Conduct

• Establish a code of ethics outlining standards of conduct for employees.

• Implement procedures for reporting and addressing conflicts of interest.

• Provide ongoing training and education on ethical standards and compliance requirements.

IV. Disclosure Documents

• Provide clients with Form ADV Part 2A and 2B disclosing firm information and services.

• Update Form ADV promptly to reflect material changes in firm operations or disclosures.

• Deliver Form CRS (Client Relationship Summary) to clients as required by SEC regulations.

V. Compliance Policies and Procedures

• Develop and maintain written compliance policies and procedures tailored to the firm's operations.

• Conduct regular reviews and updates of compliance manuals to reflect changes in regulations or business practices.

• Train staff on compliance policies and procedures and ensure understanding and adherence.

VI. Custody and Safeguarding of Client Assets

• Implement controls to safeguard client assets and prevent unauthorized transactions.

• Maintain accurate records of client accounts and transactions.

• Comply with custody rules and requirements for maintaining custody of client funds or securities.

VII. Advertising and Marketing Compliance

• Ensure all marketing materials and communications comply with SEC advertising rules.

• Review and approve marketing materials before dissemination to clients or the public.

• Maintain records of advertising and marketing activities for compliance purposes.

VIII. Client Suitability and Best Interest Obligations

• Conduct thorough client suitability assessments before making investment recommendations.

• Document client investment objectives, risk tolerance, and financial situation.

• Act in the best interest of clients and avoid conflicts of interest when providing investment advice.

IX. Recordkeeping and Reporting

• Maintain accurate and complete records of client transactions, communications, and account information.

• Retain records in accordance with SEC recordkeeping requirements.

• File required reports and disclosures with regulatory authorities in a timely manner.

X. Cybersecurity Measures

• Implement cybersecurity policies and procedures to protect client information and firm operations.

• Conduct regular risk assessments and vulnerability scans to identify and address cybersecurity threats.

• Provide cybersecurity training to staff and ensure awareness of best practices for data security.

XI. Signature

I, [YOUR NAME], hereby acknowledge that I have reviewed and understand the contents of this RIA Compliance Checklist. I am committed to upholding the standards outlined herein and ensuring compliance with regulatory requirements as a Registered Investment Adviser (RIA) at [YOUR COMPANY NAME].

[YOUR NAME]
Compliance Officer
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]

Date:                               

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