From the April 2009 issue of Investment Advisor • Subscribe!

New DOL Regs

More On Legal & Compliance

from The Advisor's Professional Library
  • Trading Practices and Errors When SEC-registered investment advisors conduct annual audits of firm policies and procedures, they should pay close attention to trading practices.  Though usually not required to, state-registered advisors should look at their trading practices and revise policies that do not fully protect clients.
  • Pay-to-Play Rule Violating the pay-to-play rule can result in serious consequences, and RIAs should adopt robust policies and procedures to prevent and detect contributions made to influence the selection of the firm by a government entity.
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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