More On Legal & Compliancefrom The Advisor's Professional Library
- The New and Improved Form ADV Whether an RIA is describing its investment strategy in advertisements or in the new Form ADV Part 2, it is important the firm articulates material risks faced by advisory clients and avoids language that might be construed as a guarantee.
- 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.
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.”