More On Legal & Compliancefrom The Advisor's Professional Library
- Privacy Policies and Rules Whether an RIA is SEC or state-registered, the firm must have policies and procedures in effect to protect clients privacy. Policies and procedures should explicitly require an RIA to send out its privacy notice each year.
- 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.
In last week's holiday-shortened week, the Dow rose 0.8%, the S&P 500 rose 3.8%, and the Nasdaq rose 4%. The S&P has now risen 26.6% since its low on March 9. Stocks were helped in the financial sector by Wells Fargo's report of record earnings and Lincoln Financial's announcement that it was repaying $500 million in debt.
Likely to be moving the markets this week is the busy season for corporate earnings, especially for banks. Those closely watched include Goldman Sachs on April 14, Charles Schwab on April 15, BlackRock and JPMorgan on April 16, and Citigroup on April 17.