Thank you, Shane. First of all, on behalf of Milne Legal I'd like to issue a warm welcome for all of our participants who have dialed in today for this webinar. We do clearly believe it's an important subject, so we are happy to have each of you participating on the phone with us today. Like Shane explained, my name is Milne Legal. I am the founder of Milne Legal and the managing partner. I'm also a U.S. licensed lawyer out of the state of New York, specifically focusing my practice on the SEC regulatory issues and on the U.S. tax side as well, on behalf of the firm.

Charles Learner, to my right sitting here with me. It's clearly a pleasure to have him. He brings a tremendous amount of senior experience with the government working several years with the SEC enforcement division. He will share his thoughts later in the program. It's clearly a privilege to have him. 

I'm also joined by Latisha Monto who has had over ten years of experience working in the U.S. space, specifically for non-U.S. organized investment advisers registered with the SEC focusing on their compliance programs. She's going to share some of her experience later on in the presentation.

Before we dive into the material topics, maybe a quick note on the Milne Legal - thank you, Shane, for flipping the slide. Milne Legal is boutique law firm organized in Zurich. We also have a branch office in Paris. The members of our firm are all U.S. Lawyers or compliance consultants. We don't practice any non-U.S. laws, specifically U.S. laws regulatory.

Today's agenda: we have three points. I'll address the first one, the definitions. Who qualifies as an investment adviser under the 1940 Investment Advisers Act? What is U.S. jurisdictional means, and U.S. person mean? All three are important in deciding whether your entity organized outside the United States indeed has to register. Latisha Monto will touch upon the compliance program. If it is determined that you do need to register under the act you need the compliance program, certain books and records. Latisha will talk about that. We'll shift to Charles at the end of the presentation who will talk about preparing for an SEC examination and some relevant SEC enforcement actions that have taken place against entities organized outside the united states. We'll bring those to your attention.