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.
- 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.
Financial services reform remains at the top of the agenda. Read Melanie Waddell's news story , and bloggers Mike Patton and Bob Clark's reactions. To view video of Treasury Secretary Geithner's Senate testimony on Obama's proposal to "modernize the financial regulatory system," click here .The Obama White Paper itself is here.
Healthcare reform hit center stage last week with the Senate Health, Education, Labor, and Pensions committee holding hearings on the Affordable Health Choices Act. On June 22, the Senate Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance and Investment will welcome Mary Schapiro and Gary Gensler of the CFTC to examine oversight of OTC derivatives.