More On Legal & Compliancefrom The Advisor's Professional Library
- Use and Misuse of Social Media Social media is an inexpensive and effective way to communicate with established and prospective clients. Nevertheless, when RIAs utilize social media to promote their advisory practices, they risk compliance problems for their firms.
- 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.
Chronologically, on January 25th existing home sales are announced. On January 26th comes release of the S&P Case-Shiller Home Price Index, and two confidence reports--the Conference Board's consumer confidence index, and the State Street Investor Confidence Index. Also on Tuesday, the state of Oregon begins counting votes on a controversial tax proposal that other states may consider--both "wealthy" individuals (joint filers with $250,000 in annual income) and businesses would face new levies to help the state balance its budget.
The Federal Reserve Open Market Committee meets on January 26 and 27th, with a statement to be released by the FOMC on the 27th. That evening, President Obama delivers his State of the Union address; last week he gave another address on financial services reform, attended by Paul Volcker and Bill Donaldson. Tim Geithner was in the room, but not center stage.
On Thursday, January 28, durable goods orders are released, while on the 29th, Friday, we get the first report from the Bureau of Economic Analysis on how the economy performed in the fourth quarter of 2009 with the GDP estimate.
Finally, both houses of Congress swiftly approved identical bills last week on tax deductions for donations made by taxpayers for Haiti relief; the President is expected to sign the bill this week.