S3:E14 l The State of the Investment Adviser Industry l Compliance In Context

Welcome back to the Compliance In Context podcast! Today’s show features two very special guests in the investment management space, Karen Barr from the Investment Adviser Association and Lisa Crossley from the National Society of Compliance Professionals, to talk to us about what’s happening in the investment adviser space, discuss the rich history of both organizations and more recent DE&I efforts, in the industry and what has helped these women become the fantastic leaders they are today. In our Headlines section, we examine the recent criminal indictment of FTX founder Samuel Bankman-Fried and some recent comments from Commissioner Peirce on ESG. And finally, we’ll wrap up today’s 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.

Show

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