More On Legal & Compliancefrom The Advisor's Professional Library
- Disaster Recovery Plans and Succession Planning RIAs owe a fiduciary duty to clients to prepare for disasters and other contingencies. If an RIA does not have a disaster recovery plan, clients financial well-being may be jeopardized. RIAs should also engage in succession planning, ensuring a smooth transaction if an owner or principal leaves.
- 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.
If there's one thing that's more important than jobs when it comes to clear signs of the economy's health, it's corporate earnings. This week there's a passel of quarterly earnings reports, starting on Monday and ending on Friday, that will not only show how the banking sector is doing, but also how well some major brokerage firms--and the largest custodian for RIAs--are doing.
Healthcare reform hearings resume on October 13 before Max Baucus's Senate Finance Committee, while on October 14, Chris Dodds' Senate Banking, Housing, and Urban Affairs Committee will examine the state of the banking industry, with Sheila Bair of the FDIC as the lead witness.
Finally, the SEC on October 8 published a draft of its 2010-2015 Strategic Plan, asking for comments. You can download the Plan here.