More On Legal & Compliancefrom The Advisor's Professional Library
- The Need for Thorough and Effective Policies and Procedures Whethere an advisor is SEC or state-registered, RIAs must revise their policies and procedures to address significant compliance problems occurring during the year, changes in business arrangements, and regulatory developments.
- Using Solicitors to Attract Clients Rule 206(4)-3 under the Investment Advisors Act establishes requirements governing cash payments to solicitors. The rule permits payment of cash referral fees to individuals and companies recommending clients to an RIA, but requires four conditions are first satisfied.
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.