More On Legal & Compliancefrom The Advisor's Professional Library
- The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations. When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.
- Advertising Advisor Services and Credentials Section 206 of the Investment Advisers Act contains the anti-fraud provision of the statute and ensures that RIAs advertising and marketing practices are consistent with the fiduciary duty owed to clients and prospective clients.
The House reports back for duty on April 21, while the Senate starts up on April 20, when it will consider the Fraud Enforcement and Recovery Act of Sen. Patrick Leahy (D-Vermont).
Finally, in the good news/bad news category, NAPFA got some coverage from New York Times personal finance columnist Ron Lieber, whose advisor--a NAPFA member--allegedly stole some of his money. At least Lieber quoted Diahann Lassus, and provided a link to the NAPFA site.