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.
- Agency and Principal Transactions In passing Section 206(3) of the Investment Advisers Act, Congress recognized that principal and agency transactions can be harmful to clients. Such transactions create the opportunity for RIAs to engage in self-dealing.
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.