Editor's Choice: Week of June 1, 2009

More On Legal & Compliance

from The Advisor's Professional Library
  • Whistleblowers A whistleblower is any individual providing the SEC with original information related to a possible violation of federal securities law.  The Dodd-Frank Act established a whistleblower program that enables the SEC to reward individuals who voluntarily provide such information.
  • Best Practices for Working with Senior Investors Securities examiners deal harshly with RIAs that do not fulfill their fiduciary obligations toward senior investors, as the SEC and state securities regulators view older investors as particularly vulnerable and in need of protection.
Good news, bad news. It turns out the economy only shrank at an annual rate of 5.7% in the first quarter, not the preliminary estimate of 6.1%, the Commerce Department reported on May 29, but the FDIC's Sheila Bair said May 27 that the U.S. banking industry "still faces tremendous challenges," and that "asset quality remains a further concern" upon the release of its Quarterly Banking Profile Perhaps Treasury Secretary Geithner didn't read the report; as he arrived in China May 31, he proclaimed that the U.S. financial system "is in substantially better shape."

Major reports this week include May retail sales numbers on June 4, and May unemployment figures on June 5.

Also, look for onsite news coverage from IA staff this week from the Pershing LLC conference and the NAPFA national gathering.

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