More On Legal & Compliancefrom 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.
- Differences Between State and SEC Regulation of Investment Advisors States may impose licensing or registration requirements on IARs doing business in their jurisdiction, even if the IAR works for an SEC-registered firm. States may investigate and prosecute fraud by any IAR in their jurisdiction, even if the individual works for an SEC-registered firm.
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.