More On Legal & Compliancefrom The Advisor's Professional Library
- The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations. When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.
- Regulatory Oversight of Investment Advisors Although the regulatory environment is in a state of flux, it is imperative that RIAs adhere to their compliance obligations. To ensure compliance, RIAs and IARs must fully understand what those obligations are.
The use of furloughs is increasingly popular throughout many industries, but when employees are furloughed, the employer must make it clear that the employee must not do any work whatsoever. Given the myriad of remote access devices that we all have these days (including laptops, PDAs, e-mail, voice mail), it is likely that some exempt employees will be inclined to check their e-mail, return phone messages, or otherwise "work" while on furlough. However, as exempt employees are entitled to pay for any workweek in which any work is performed, employers should clearly advise that work is not authorized during any furlough period without advance written approval.