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.
- Do’s and Don’ts of Advisory Contracts In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.
While many eyes were focused last week on Capitol Hill, consumers were reported as buying more last week (well, in November), though the University of Michigan/Reuters consumer sentiment index fell from October's level. Also, Ken Feinberg at Treasury got tough on compensation for TARP recipients.
The week begins December 14 with a White House meeting between banking leaders and President Obama, who in a 60 Minutes interview with Steve Kroft on Sunday night, December 13, said Wall Street "still doesn't get it," citing the large bonuses that TARP repayers are offering top executives. In the interview, which mostly focused on Afghanistan, the President also cited the CBO's estimate that healthcare reform would in fact reduce the federal budget deficit over time.
Also this week, both the House and Senate are in session, while on December 15th we hear about producer prices while on Wednesday, December 16th, reports are released on November housing starts and building permits, and on the CPI, along with the Federal Reserve Open Market Committee meets on December 15th and 16th. On the 17th, we hear about leading economic indicators.