More On Legal & Compliancefrom The Advisor's Professional Library
- Recent Changes in the Regulatory Landscape 2011 marked a major shift in the regulatory environment, as the SEC adopted rules for implementing the Dodd-Frank Act. Many changes to Investment Advisers Act were authorized by Title IV of the Dodd-Frank Act.
- Books and Records Rule Thorough and complete books and records enable RIAs to demonstrate that they have fulfilled their fiduciary obligations to clients and complied with applicable rules and regulations.
The Financial Industry Regulatory Authority (FINRA), the newly combined NASD-NYSE regulatory agency, announced the appointment of a 23-member Interim Board of Governors on August 2. Members of the interim board will serve until the super-SRO's annual meeting on October 26, when elections will be held for a three-year Transition Board of Governors.
At the annual meeting, three small-firm representatives, one mid-sized firm representative, and three large-firm representatives will be elected to serve on the transition board along with 14 interim board members who have been appointed to that transition board.
Included on the interim board is John Simmers, CEO of ING Advisors Network and chairman of the Financial Services Institute.