The Investment Advisers Association (IAA) is an organization dedicated to protecting the rights of self-regulating investment advisers. The IAA has developed Standards of Professional Practice (SOPs) and has provided the legal resources necessary for States to develop their own proprietary self-regulatory programs. These State plans are then enforced by the U.S. Department of Labor, Federal Trade Commission and other governmental regulatory agencies. Most State Boards of Investments and Commission of Investment Advisers (CIDA) have a system for handling conflict resolution cases, including Internal Revenue Service (IRS) cases involving investment advisers. In addition, the FINRA provides an annual self-regulatory program for accountants that has been widely recognized as being a model for conflict resolution.Investment advisers play a significant role in resolving conflicts involving employees, employers or client conflicts between an IAA member. Employees can be a source of conflict due to insubordination, misfeudlement or otherwise. Businesses and corporations may also become the subject of conflict due to issues with employee theft, vendor fraud and internal fraud. In these conflicts, the IAA facilitates communications between the employer or business partner and the employee who is the subject of the dispute to informally resolve the conflict. In many cases, the dispute can be resolved amicably, however, in some instances the dispute may require formal mediation, arbitration or Federal court intervention.Self-regulation is a practice that the IAA promotes as a way to promote a work environment free from conflict, violence and sexual harassment among its members. The IAA recognizes four types of conflicts that it believes are best resolved through a consultant relationship: partner conflicts, conflict between an IAA member and an employee/business representative, conflict between an IAA member and an investor and conflict between an IAA member and a vendor. It is the responsibility of the IAA's Standards of Practice to identify the type of conflict and develop appropriate conflict resolution strategies to help resolve it. Consistent implementation of IAA policies and procedures and the use of conflict resolution strategies by IAA members are necessary to maintain an environment that is free from conflict and violence.A conflict between an IAA member and an employee/business representative can occur when there is a misunderstanding about the duties or work expectations of a certain individual. If the employee does not understand his duties, the investment adviser may need to be involved to help guide the employee and provide clarification. When a conflict between an IAA member and an investor arises, it is usually because an investor demands a higher fee or does not accept a lower fee than others in the same industry. When the conflict is resolved in a professional manner, it often does not require outside IAA services to resolve.An IAA member may conflict with an employee or partner if the advisor requests a review of a particular investment strategy and the employee objectifies that the IAA member is not qualified to make such a review. The conflict could also occur if the IAA member requests a performance improvement plan that conflicts with an employee or the other partner. Such conflicts are typically not resolved without outside advice or guidance. In some cases, the IAA member may have a difficult time understanding the investment proposal or the investment decision. If this occurs, the conflict resolution may be difficult if not impossible. Therefore, in is best to outsource the conflict to a third party.An IAA conflict can be resolved in a number of ways including the following: If an individual partner believes that the conduct complained of constitutes a violation of their fiduciary duty; if there is a question as to whether the conduct actually occurred; if there is a question as to whether the conflict has caused damage or harm to the overall business opportunity; or if it appears that the employee or the other partner was motivated to bring about the conflict. The IAA member should always remember to discuss a conflict resolution strategy with their partners before they take any action. of an IAA conflict resolution strategy is to foster communication and teamwork. This is especially important when dealing with an individual's long-term career. Finally, it is vital to consider the cost of hiring an outside conflict resolution adviser.

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Last-modified: 2021-10-25 (月) 03:16:36 (37d)