What must be covered in an SEC registered investment adviser’s written supervisory and compliance policies and procedures?

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What must be covered in an SEC registered investment adviser’s written supervisory and compliance policies and procedures?

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SEC Rule 206(4)-7 indicates that a registered investment adviser’s supervisory and compliance policies and procedures must be reasonably designed to prevent violation of the Investment Advisers Act of 1940 by the investment adviser or any of its supervised persons. A registered investment adviser must consider and incorporate its fiduciary and regulatory obligations. Each investment adviser must adopt policies and procedures that take into consideration the nature of the investment adviser’s operations. The supervisory and compliance policies and procedures should be designed to prevent violation of the Investment Advisers Act of 1940 from occurring, detect violations that have occurred, and correct promptly any violations that have occurred. A SEC registered investment adviser must identify conflicts and other compliance factors creating risk exposure for the investment adviser and its clients in light of the firm’s particular operations. An investment adviser must then design policie

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