More On Legal & Compliancefrom The Advisor's Professional Library
- 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.
- Preventing and Dealing with Client Complaints Although the SEC has not provided specific guidance on how client complaints should be handled, a firms policies and procedures should provide clear direction how to do so, as neglecting complaints can exacerbate a bad situation.
The Municipal Securities Rulemaking Board (MSRB) announced July 11 that it will begin using Twitter as another way to disseminate updates on municipal market regulation, as well as information about municipal market transparency and the MSRB’s Electronic Municipal Market Access (EMMA) website.
The MSRB’s twitter feed, @MSRB_News, will be periodically updated with key developments that could affect investors and municipal entities in the $3.7 trillion municipal market.
In addition to regulating the municipal market, the MSRB operates EMMA--an online, centralized database that provides free public access to municipal market data and documents. As MSRB explains, EMMA also provides real-time trade data for outstanding municipal bonds and current interest rates for auction rate securities and variable rate demand obligations.