More On Legal & Compliancefrom The Advisor's Professional Library
- Preventing and Dealing with Client Complaints Although the SEC has not provided specific guidance on how client complaints should be handled, a firms policies and procedures should provide clear direction how to do so, as neglecting complaints can exacerbate a bad situation.
- 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.
As the nation gets back to work following the unofficial end of summer, the market-moving news for the week will revolve around speeches by President Obama on taxes and the economy, following sneak previews presented in his weekly radio address and a Labor Day speech in Milwaukee, in which he called for a $50 billion investment in transportation infrastructure, to be paid for by public and private funds. The Financial Crisis Inquiry Committee holds hearings in the West, Mary Schapiro speaks in New York, several foreign central banks hold interest rate meetings, and we hear about trade numbers for July. Finally, Michelle Obama and Laura Bush are guests of honor at a ceremony in Shanksville, Pennsylvania, marking the ninth anniversary of the September 11 terror attacks at the Flight 93 memorial.
On Tuesday, September 7, SEC Chairman Mary Schapiro speaks at the Economic Club of New York, while the Financial Crisis Inquiry Committee (FCIC) holds the first of two Western hearings on the impact of the crisis on the Bakersfield, California region.
On Wednesday, September 8, the big news is likely to come from the White House, when President Obama speaks in Cleveland about making permanent a $100 billion extension of tax credit for business research. The Federal Reserve releases its beige book for July, and the state of consumer credit for July. The FCIC meets on the impact of the financial crisis on the state of Nevada.
On Thursday, September 9, the Census Bureau reports on the trade deficit numbers for July, while the Labor Dept. releases the initial weekly jobless claims. U.S. Global Investors reports FY 2010 results; it will hold a webcast on its earnings on September 10.
The business week ends on Friday, September 10, with the Census Bureau reporting on wholesale trade inventories for July.