More On Legal & Compliancefrom The Advisor's Professional Library
- Regulatory Oversight of Investment Advisors Although the regulatory environment is in a state of flux, it is imperative that RIAs adhere to their compliance obligations. To ensure compliance, RIAs and IARs must fully understand what those obligations are.
- 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.
The White House said on Friday that President Barack Obama will nominate Martin Gruenberg as chairman of the Federal Deposit Insurance Corp. (FDIC), replacing Sheila Bair, whose term expires this month.
Gruenberg has been serving as vice chairman of the FDIC since 2005.
Sen. Tim Johnson (D-S.D.) chairman of the Senate Banking Committee, said in a statement on Monday that Gruenberg “has done excellent work” as vice chairman of the FDIC, adding that Gruenberg’s “intellect and years of experience in financial services, including distinguished service on the staff of the Senate Banking Committee, will make him an outstanding chairman.”
Johnson said he plans to move Gruenberg’s nomination through the Banking Committee “as quickly as possible,” in hopes that he will be “swiftly confirmed” by the full Senate.
As the nation continues its economic recovery, Johnson said, “it is vital that we have strong leaders in place at our financial regulators.”