Level Indicator

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Investment Adviser - Ongoing Compliance - Level Indicator

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Test Your Compliance Savvy with ComplyRate^™

Thank you for considering NCS as your compliance consultant. NCS has developed ComplyRate™, a compliance rating program that will determine your level of compliance needs. In order to have NCS evaluate your compliance aptitude please complete and submit this needs analysis form. Upon receipt we will review and analyze your responses and give you a call to discuss our recommendations. All information will be kept confidential.

Firm Name

Address

City

State

Zip

Phone

Compliance Contact Person

E-Mail Address

Re-Enter E-Mail

Please check or complete appropriate response

Is your firm

SECState-registered

If, State-registered, home state

How many jurisdictions is the firm registered/notice filed in?

Is the firm dually registered as an RIA and BD?

YesNo

What are your current Assets Under Management?

Have you been audited by the SEC or your State securities regulator in the past 2 years?

YesNo

What was the outcome of the audit?

Favorable – no deficiency letter
Not favorable – deficiency Letter
Not Favorable – Regulatory action

How many individuals are employed by your firm (full and part time)?

Under 56-1011-50Over 50

How many IARs are employed by your firm?

Under 56-1011-50Over 50

How many employees are registered reps of a broker-dealer?

0 (Zero)1-56-10Over 10

How many branch offices do you have (excluding your “home” office)?

12-56-10More than 10

How are you organized?

CorpPartnershipSole PropLLCLLPOther

Do you offer financial planning services?

YesNo

Do you offer portfolio asset management services?

YesNo

Are your portfolio management services offered?

on a discretionary basis
non-discretionary basis
a combination thereof

Do you offer pension consulting services on the plan level?

YesNo

Do you utilize third-party money managers or sub-advisers?

YesNo

Do you compensate any third party (solicitor) for client referrals?

YesNo

Have you attended any compliance training seminars (i.e. SEC Web-based training or Pod casts)?

YesNo

Do you conduct compliance training programs on an ongoing basis for your IARs?

YesNo

Are you the Chief Compliance Officer of your firm?

YesNo

Is this your only function?

YesNo

If not, what are your other responsibilites?

Approximately how much time do you spend monthly on Compliance?

<1 Hour>1 Hour>5 Hours>10 Hours

How much do you allocate for your Compliance Budget (excluding your salary)?

<$5K>$5K>$10K>$25K

Is your firm a portfolio manager and/or sponsor of any wrap fee programs?

YesNo

Are you an Adviser to a Mutual fund or a Hedge fund?

YesNo

When was your current Form ADV Part II & Schedule F written (approximate date OK)?

When was your Form ADV Part II & Schedule F last amended (specific date required)?

When were your current Written Policies & Procedures first adopted (approximate date OK)?

What was the date that they were last amended (specific date required)?

What was the date of your last self-audit (specific date required)?

Do you currently outsource some or all of your compliance needs?

YesNo

Specific Questions

Use the following questions to evaluate your compliance knowledge. Having little or no knowledge in a particular area will not reflect negatively on you. The goal of this exercise is to match your needs with the right level of compliance assistance for your firm.

Some of these questions are purposefully overlapping. To avoid inconsistencies, each question should be answered carefully and accurately.

You should rate your knowledge using the following system: Very low (1); Low (2); Average (3); Above average (4); Excellent (5). For example, if you possess little or no knowledge regarding a particular subject, your rating should be 1; if you are extremely knowledgeable about a topic, your answer should be 5.

Please rate your knowledge of the following:

Books and records retention requirements, including electronic communications.

12345

Custody Rule and inadvertent custodial situations.

12345

Code of Ethics Rule.

12345

Insider Trading Procedures.

12345

Reporting of personal securities transactions: what is reportable, who must report, how often, and which transactions require pre-approval.

12345

Risk assessment as it relates to your policies and procedures.

12345

Auditing policies and procedures: when must this occur and how often.

12345

Investment Policy Statements requirements.

12345

Registration, renewal and annual updating amendment requirements.

12345

Updating material vs. non-material items found in the Form ADV and disclosure brochures.

12345

Rules and regulations governing advertising.

12345

Rules and regulations governing websites.

12345

Rules and regulations governing e-mail and instant messaging.

12345

Obligations owed to your clients based upon your fiduciary duty.

12345

Prohibited transactions that must be avoided.