More On Legal & Compliancefrom The Advisor's Professional Library
- How to Avoid Sabotaging Your Compliance Exam There is much more to compliance examination survival than knowing all of the rules. It helps to understand why the rules were put in placeand to recognize that examiners are not the enemy.
- Anti-Fraud Provisions of the Investment Advisers Act RIAs and IARs should view themselves as fiduciaries at all times, whether they meet the legal definition or not. Deviating from the fiduciary standard of full disclosure while courting clients may cause the advisor significant problems.
Securities and Exchange Commissioner Annette L. Nazareth announced her intention to leave the Commission to return to the private sector October 2. In her nine years at the Commission, as a Commissioner and previously as Director of the SEC's Division of Market Regulation, the SEC noted in a release that, Nazareth "has applied her financial markets expertise to a broad range of issues affecting investors and the securities markets." Nazareth has not set a date for her departure from the Commission, but has notified President Bush that she does not wish to be re-nominated, the SEC said in the release. Her term ended on June 5, 2007, but Commissioners may remain in their positions for up to 18 months beyond a term's end, unless a successor is appointed sooner.
With Nazareth's departure, the SEC will now have to replace two of its Commissioners, as Roel Campos left the Commission in September to join the law firm of Cooley Godward Kronish.