More On Legal & Compliancefrom The Advisor's Professional Library
- The New and Improved Form ADV Whether an RIA is describing its investment strategy in advertisements or in the new Form ADV Part 2, it is important the firm articulates material risks faced by advisory clients and avoids language that might be construed as a guarantee.
- 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.
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.