More On Legal & Compliancefrom The Advisor's Professional Library
- Suitability and Fiduciary Duty Recommending suitable investments is more than just a regulatory obligation. Many investors bring cases claiming lack of suitability, so RIAs must continuously put the onus on clients to notify the advisor of changes in their financial situation.
- Recent Changes in the Regulatory Landscape 2011 marked a major shift in the regulatory environment, as the SEC adopted rules for implementing the Dodd-Frank Act. Many changes to Investment Advisers Act were authorized by Title IV of the Dodd-Frank Act.
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.