More On Legal & Compliancefrom The Advisor's Professional Library
- How to Avoid Sabotaging Your Compliance Exam There is much more to compliance examination survival than knowing all of the rules. It helps to understand why the rules were put in placeand to recognize that examiners are not the enemy.
- Client Communication and Miscommunication RIA policies and procedures must specify what type of communications should be retained. The safest course of action is for RIAs to retain all communicationsto clients, from clients, and about client accounts. To comply with fiduciary obligations, communications must be thorough and not mislead.
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.