Alternative Investment Processing
Alternative Investment Processing
As you are well aware from the recurring publicity on alternative products over the years, regulators are stepping up their review in this area. Unfortunately, this puts an additional burden on IPI to ensure compliance with our own internal guidelines in conducting the suitability review and principal signature requirement on the forms prior to submission of the check and application to the product sponsor.
In order to appropriately facilitate Compliance’s oversight for the suitability and approval of these products, IPI will require that the original paperwork and client checks for all alternative products be sent to IPI’s home office for review and approval starting December 16, 2013.
At a minimum, the original paperwork should include the following:
Updated new account form for the specific investment as a client’s investment obiective may change based on the product invested
Alternative Investment Disclosure form (please remember to complete the Purpose of the investment section)
Subscription Agreement.