More On Legal & Compliancefrom The Advisor's Professional Library
- The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations. When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.
- Disaster Recovery Plans and Succession Planning RIAs owe a fiduciary duty to clients to prepare for disasters and other contingencies. If an RIA does not have a disaster recovery plan, clients financial well-being may be jeopardized. RIAs should also engage in succession planning, ensuring a smooth transaction if an owner or principal leaves.
The Commodity Futures Trading Commission introduced one interim final rule and two proposed rules on Oct. 1, 2010, the first rules coming out of the Dodd-Frank Wall Street Reform and Consumer Protection Act, reports Michael J. McFarlin of AdvisorOne.com’s sister publication, FuturesMag.com.
The new rules are designed to bring regulation to swaps and other derivatives, McFarlin writes.
In a separate article appearing in the October issue of Futures magazine, McFarlin wrote about an August 30 CFTC ruling on foreign exchange.