Compliance Manual Update Staff Requirements Check Risk Management – Compliance Manual Update Form ADV Update Compliance Manual Update Staff Requirements Check Description: This workflow describes all the steps required to update the firm’s compliance manual, either on an annual basis or if there is a material change that requires updating right away. This is an important part of management’s role in ensuring the firm remains compliant. Process Checklist PREPARE ROLE TASK DETAILS/TIPS Advisor Review Manual Against Regulatory Changes Review any compliance notifications the firm might have received Research any regulatory changes or news Take this opportunity to read all the facts and reasoning behind the change to gain a deeper understanding of how this affects the firm Identify Content to be Updated & Edited Identify a comprehensive list of rule changes that need to be considered when updating the manual Interpret what each change means for the firm to the best the firm’s ability If necessary, reach out to any compliance or legal representatives for a third-party opinion on how these rules should be applied to the firm Process Checklist CONDUCT ROLE TASK DETAILS/TIPS Advisor Update Compliance Manual Review the firm’s compliance manual against this list of regulatory changes Identify the content within the manual that must be updated and edited Best practice is to track those changes throughout the review before making any final edits, so the firm can assess all the changes in totality in case some edits affect other language in the manual Make all updates to the manual and proofread as appropriate File the updated compliance manual internally for record-keeping purposes Process Checklist FOLLOW-UP ROLE TASK DETAILS/TIPS Advisor Distribute Manual Internally & Notify Team Distribute the updated compliance manual to the team and notify them of all the changes that have been made Be as specific as possible when identifying the changes so there’s no room for confusion or oversight Train the team on the updated compliance manual as appropriate sei.com/advisors © 2015 SEI. This information is proprietary.  No further distribution is intended.