Editor's Choice for the Week of July 27, 2009

More On Legal & Compliance

from 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.
  • Proxy Voting RIAs are not required to vote proxies on behalf of their clients. However, when an RIA does assume responsibility for voting proxies, the firm’s policies and procedures should help to ensure that votes are cast in the best interest of clients.

The top economic reports are spread throughout the week, with June new home residential sales coming on Monday, July 27; the Case-Shiller Home Price Index for May on the 28th, durable goods orders on July 29th, and advance second-quarter GDP numbers on Friday the 31st.

As for earnings, a number of insurance companies post their quarterly results this week, including Aetna, which reported early on July 27, The Hartford on July 29, and MetLife and Travelers on the 30th.

The Senate Joint Economic Committee meets on the 28th to discuss current trends in foreclosures, and hearings on corporate governance will be held on the 29th by the Senate Banking, Housing, and Urban Affairs Committee's Subcommittee on Securities, Insurance, and Investment.

Federal Reserve Chairman Ben Bernanke held a town hall-style meeting moderated by Jim Lehrer of the NewsHour in which he discussed the Fed's actions, the Depression, and the jobs market, among other issues; the video is here.

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