More On Legal & Compliancefrom The Advisor's Professional Library
- The New and Improved Form ADV Whether an RIA is describing its investment strategy in advertisements or in the new Form ADV Part 2, it is important the firm articulates material risks faced by advisory clients and avoids language that might be construed as a guarantee.
- Suitability and Fiduciary Duty Recommending suitable investments is more than just a regulatory obligation. Many investors bring cases claiming lack of suitability, so RIAs must continuously put the onus on clients to notify the advisor of changes in their financial situation.
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.