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.
- Dealings With Qualified Clients and Accredited Investors Depending upon an RIAs business model and investment strategies, it may be important to identify “qualified clients” and “accredited investors.” The Dodd-Frank Act authorized the SEC to change which clients are defined by those terms.
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.