In order to improve licensee compliance to the Law, the ISA initiated a training program for new licensee firms. Training sessions were coordinated in advance with the firms and conducted by the department’s supervisors. Training is carried out in meetings with representatives from the licensed firms. During the course of these sessions the representatives are given an overview of the key provisions of the Investment Advice and the Prohibition of Money Laundering Laws and a detailed survey of the obligations investment professionals undertake towards their clients and the supervisory authorities. In addition, the representatives are advised on problems and deficiencies revealed in inspections conducted in other firms and are provided tools for preventing and addressing these problems in their own firms. Training is carried out in small forum, which facilitate interaction between supervisors and participants and enable them to focus on specific points raised by the representatives of the licensee firms.