More On Legal & Compliancefrom The Advisor's Professional Library
- Privacy Policies and Rules Whether an RIA is SEC or state-registered, the firm must have policies and procedures in effect to protect clients privacy. Policies and procedures should explicitly require an RIA to send out its privacy notice each year.
- Do’s and Don’ts of Advisory Contracts In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.
Title VII, the two agencies say, provides for the comprehensive regulation of swaps and security-based swaps and includes definitions of key terms relating to such regulation. The title of the Dodd-Frank Act "requires the CFTC and the SEC, in consultation with the Board of Governors of the Federal Reserve System, to jointly further define the terms 'swap,' 'security-based swap,' 'swap dealer,' 'security-based swap dealer,' 'major swap participant,' 'major security-based swap participant,' 'eligible contract participant' and 'security-based swap agreement,' " the two agencies say in their release requesting public comments.
Title VII also requires the CFTC and SEC to jointly prescribe regulations regarding "mixed swaps" as necessary to carry out the purposes of Title VII.
The SEC and CFTC also have a series of email links on the two agencies' Web sites to facilitate public comment regarding regulatory reform rulemaking under the Dodd-Frank Act.
Read a story about the SEC and CFTC's meeting on May 6 "Flash Crash" from the archives of InvestmentAdvisor.com.