Editor's Choice for October 12, 2009: Market-Moving News for This Week

What Will the Earnings Reports Indicate About the Economy?

More On Legal & Compliance

from The Advisor's Professional Library
  • Preventing and Dealing with Client Complaints Although the SEC has not provided specific guidance on how client complaints should be handled, a firm’s policies and procedures should provide clear direction how to do so, as neglecting complaints can exacerbate a bad situation.
  • 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.   

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.

On October 12, Charles Schwab is scheduled to report third quarter results; on October 13, Goldman Sachs; on October 14, JPMorgan Chase; on October 15, Citicorp; and on October 16, Bank of America.

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.

Reprints Discuss this story
This is where the comments go.