From the April 2009 issue of Investment Advisor • Subscribe!

New DOL Regs

More On Legal & Compliance

from The Advisor's Professional Library
  • Proxy Voting RIAs are not required to vote proxies on behalf of their clients. However, when an RIA does assume responsibility for voting proxies, the firm’s policies and procedures should help to ensure that votes are cast in the best interest of clients.
  • Agency and Principal Transactions In passing Section 206(3) of the Investment Advisers Act, Congress recognized that principal and agency transactions can be harmful to clients. Such transactions create the opportunity for RIAs to engage in self-dealing.
Department of Labor (Employee Benefits Security Administration, 29 CFR Part 2550, Investment Advice--Participants and Beneficiaries; Final Rule) regulations proposed in the Federal Register on January 21, 2009 can be downloaded here.
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