More On Legal & Compliancefrom The Advisor's Professional Library
- Use and Misuse of Social Media Social media is an inexpensive and effective way to communicate with established and prospective clients. Nevertheless, when RIAs utilize social media to promote their advisory practices, they risk compliance problems for their firms.
- Risk-Based Oversight of Investment Advisors Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.
Monday, August 30, is the deadline for submitting comments to the Securities and Exchange Commission to "inform its study of the obligations and standards of care of broker-dealers and investment advisers providing personalized investment advice about securities to retail investors," as the SEC put it in releasing the call for public comments on July 27.
The study is required under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which became law on July 21, 2010 after a protracted legislative battle.
In his latest blog posting, Investment Advisor Editor-At-Large Bob Clark shares with readers how to ensure your comments stand out from the crowd at the SEC, using the insights of Kristina Fausti of Fi360.
To make your comments, visit the specific part of the SEC Web site that makes it easy to comment online on the fiduciary issue; you can see who has already submitted comments here; you can also comment on other issues from the Frank-Dodd reform bill in another part of the SEC Web site.