More On Legal & Compliancefrom The Advisor's Professional Library
- 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.
- The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations. When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.
On August 6 we learned that if we are in a recovery, it's a jobless one, as the July unemployment rate stayed at 9.5% as the number of private-sector jobs created couldn't match the decline in government jobs. This week features the Federal Reserve announcing its decision on interest rates on Tuesday, while on the same day the House of Representatives is brought out of recess to vote on a $26 billion aid bill for the states. On Friday, the Labor Department reports on CPI for July.
On Monday, August 9, the Bank of Japan begins its two-day monetary policy meeting, while on the afternoon of Tuesday, August 10, the Federal Reserve Open Market Committee (FOMC) announces its decision on interest rates. The House of Representatives is expected to vote on a $26 billion aid bill for the states. Economic reports include second-quarter productivity and wholesale trade inventories.
On Wednesday, August 11, comes the trade deficit numbers for June, along with the Federal budget deficit for July. ING reports its second quarter earnings and China reports its inflation rate for July.
On Friday, August 13, the Labor Department reports on CPI for July, while the Commerce Department issues its report on June business inventories. Also on tap are July retail sales and the Reuters/University of Michigan consumer confidence index.