President Obama Poised to Sign Financial Reforms into Law

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  • 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.   
  • 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.
As historic financial services reforms are signed into law on July 21, WealthManagerWeb.com has extensive coverage. Get the thought-leading coverage, right here.

Senate Passes Landmark Financial Services Reform Bill

July 16, 2010 - By MELANIE WADDELL

The Senate passed Thursday, July 15, the massive 2,300-page financial services reform bill; the bill now goes to President Obama for his signature, which is expected in the coming days. ...

Impact of Financial Reform Bill on Advisors, Broker/Dealers and Banks

July 15, 2010 - By JANET P. LEVAUX

While it isn't an updated version of Glass-Steagall, the financial services reform legislation the Senate passed, 60-39, on July 15, is poised to have a variety of impacts on the large banks employing wirehouse advisors, as well as on broker/dealers....

In Financial Reform Bill, Marketplace Winners and Losers

July 15, 2010 - By JOYCE HANSON

Early market reaction to the financial services reform bill, which the Senate passed, 60-39, on Thursday, July 15....

Financial Reform Over the Decades: A Timeline

July 15, 2010 - By KENNETH SILBER

The financial services reform legislation, which the Senate passed, 60-39, on Thursday, July 15, is the latest in a century-spanning series of efforts to revamp financial and securities activities through regulation. ...

Passage of Reform Bill Brings Quick Response

July 16, 2010 - By MELANIE WADDELL

Financial Planning Coalition awaits SEC study on fiduciary standard for brokers and GAO study on regulation of financial planners....

SEC Plan for Bifurcated Form ADV Part 2 Is Balked at by State Regulators

July 14, 2010 - By MELANIE WADDELL

The North American Securities Administrators Association (NASAA) is objecting to the Securities and Exchange Commission's (SEC) upcoming staff recommendation to adopt a version of Form ADV Part 2. ...

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