Editor's Choice for the Week of August 17, 2009

More On Legal & Compliance

from The Advisor's Professional Library
  • Updating Form ADV and Form U4 When it comes to disclosure on Form ADV, RIAs should assume information would be material to investors.  When in doubt, RIAs should disclose information rather than arguing later with securities regulators that it was not material.
  • 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.

Following two days of meetings by the Federal Reserve's Open Market Committee, on August 12 the FOMC said "Although economic activity is likely to remain weak for a time, the Committee continues to anticipate that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will contribute to a gradual resumption of sustainable economic growth in a context of price stability." See the full Fed release here, and read Forward Capital economist Richard Moody's reading of the Fed's tea leaves here. Also last week, the inflation number for July was unchanged.

The University of Chicago's Richard Thaler has written two pieces of interest--one on healthcare reform in The New York Times on August 16, the other in the Financial Times on the efficient market. Both are worth your time.

This week sees Producer Prices from the Bureau of Labor Statistics on Tuesday the 18th, along with housing starts as reported by the Census Bureau. Unemployment claims for the week ending August 15 are released Thursday morning the 20th, and on the 21st come sales of existing homes.

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