More On Legal & Compliancefrom The Advisor's Professional Library
- Anti-Fraud Provisions of the Investment Advisers Act RIAs and IARs should view themselves as fiduciaries at all times, whether they meet the legal definition or not. Deviating from the fiduciary standard of full disclosure while courting clients may cause the advisor significant problems.
- Differences Between State and SEC Regulation of Investment Advisors States may impose licensing or registration requirements on IARs doing business in their jurisdiction, even if the IAR works for an SEC-registered firm. States may investigate and prosecute fraud by any IAR in their jurisdiction, even if the individual works for an SEC-registered firm.
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.