More On Legal & Compliancefrom The Advisor's Professional Library
- Using Solicitors to Attract Clients Rule 206(4)-3 under the Investment Advisors Act establishes requirements governing cash payments to solicitors. The rule permits payment of cash referral fees to individuals and companies recommending clients to an RIA, but requires four conditions are first satisfied.
- Advertising Advisor Services and Credentials Section 206 of the Investment Advisers Act contains the anti-fraud provision of the statute and ensures that RIAs advertising and marketing practices are consistent with the fiduciary duty owed to clients and prospective clients.
The House of Representatives on Tuesday approved by a vote of 271-158, another short-term continuing resolution (CR) to fund the government until April 8. The Senate is due to take up, and likely pass, the CR later this week.
This short-term funding extension to prevent a government shutdown is a holdover while congressional negotiations continue on a long-term plan to keep the government running through the end of the fiscal year, which ends on September 30.