More On Legal & Compliancefrom The Advisor's Professional Library
- Registration Requirements for Investment Advisor Representatives (IARs) When individuals launch an advisory firm, they must avoid marketing themselves or the firm as investment advisors before they are properly approved and registered. Otherwise, they are subject to severe penalties.
- Dealings With Qualified Clients and Accredited Investors Depending upon an RIAs business model and investment strategies, it may be important to identify “qualified clients” and “accredited investors.” The Dodd-Frank Act authorized the SEC to change which clients are defined by those terms.
In a political atmosphere that expects Democrats to lose and lose big come November, Republicans' focus has zeroed in mostly on tax and budget cuts, and the defunding or complete repeal of legislation passed under Obama. But with Tea Partiers vying with mainline Republicans, there's speculation on how much will actually get done, through repeal, defunding, or actual government shutdown. Republican strategist Craig Shirley was quoted as saying that, if Republicans win big in November, the GOP will shortly thereafter descend into a brawl that will resemble the bar scene in "Star Wars."
At least a few Democrats, however, seem to be jumping onto the austerity bandwagon, urged on by a Washington Post story that theorized that, had they embraced fiscal austerity earlier, their chances would be better in November (despite the fact that the CBO estimates that the unemployment rate would have been anywhere from 0.7% to 1.8% higher).
Their austerity leanings may mean nothing, however, if the survey mentioned on the Sunday morning talk shows is any indication--that Americans plan to vote for Republicans over Democrats by a 10-point margin.