JPMAAM Class 1: Principal Trades

Unbeknownst to E, he has been providing classroom instruction for A University. Today, we spent two hours on the Investment Advisers Act of 1940, section 206 (3). He's a great teacher, everything from snowboarding, to getting rid of bats, to the Advisers Act. He broke it down into 3 main compartments: the controlled party, the client and the transaction. Then we further broke each compartment down, what did it mean, how do we identify, what should we do, etc. I now have to reread my notes and be prepared when we meet with Compliance and Legal tomorrow. Good times.