Editor's Choice for Week of October 19, 2009

More On Legal & Compliance

from The Advisor's Professional Library
  • Trading Practices and Errors When SEC-registered investment advisors conduct annual audits of firm policies and procedures, they should pay close attention to trading practices.  Though usually not required to, state-registered advisors should look at their trading practices and revise policies that do not fully protect clients.
  • Where Are We Headed? The ultimate compliance goal is to help ensure that everyone associated with an advisory firm acts ethically at all times.  Advisors and RIAs should do the right thing, even when regulators are not looking over their shoulders.

While many of the biggest banks reported earnings last week, this week corporate third quarter earnings reports continue, including some from companies that advisors would find interesting. We also see a hodgepodge of other reports: on October 20 housing starts and the producer price index numbers will be released, while the House Financial Services Committee holds a hearing on systemic regulation, while the Senate Banking, Housing, and Urban Affairs Committee holds a hearing on housing.

As for earnings, BlackRock reports on October 20, as does Bank of New York Mellon. On the 21st, we hear about first-time jobless claims, leading indicators, and the Fed's beige book; earnings include Ameriprise, Morgan Stanley, and Raymond James Financial.

On October 22, Legg Mason reports earnings, and the Senate Joint Economic Committee holds hearings on the economic outlook, while on October 23, we hear about existing home sales, and T. Rowe Price earnings.

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