From the May 2007 issue of Investment Advisor • Subscribe!

The Original SEC Rule

More On Legal & Compliance

from The Advisor's Professional Library
  • RIAs and Customer Identification Just as RIAs owe a duty to diligently protect their clients’ privacy and guard against theft, firms also play a vital role in customer identification. Although RIAs are not subject to an anti-money laundering rule, securities regulators expect advisors to address these issues in their policies and procedures.
  • Code of Ethics Rule The Code of Ethics Rule, found in Rule 204A-1, uses severe consequences for violation to help ensure investment advisors will do the right thing.  
Download a copy of the Security and Exchange Commission's original decision on the broker/dealer exemption rule exempting brokers from regulation as an investment advisor even when they were being paid fees for investment advice.
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