More On Legal & Compliancefrom The Advisor's Professional Library
- Differences Between State and SEC Regulation of Investment Advisors States may impose licensing or registration requirements on IARs doing business in their jurisdiction, even if the IAR works for an SEC-registered firm. States may investigate and prosecute fraud by any IAR in their jurisdiction, even if the individual works for an SEC-registered firm.
- Books and Records Rule Thorough and complete books and records enable RIAs to demonstrate that they have fulfilled their fiduciary obligations to clients and complied with applicable rules and regulations.
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.