More On Legal & Compliancefrom The Advisor's Professional Library
- Trading Practices and Errors When SEC-registered investment advisors conduct annual audits of firm policies and procedures, they should pay close attention to trading practices. Though usually not required to, state-registered advisors should look at their trading practices and revise policies that do not fully protect clients.
- Client Communication and Miscommunication RIA policies and procedures must specify what type of communications should be retained. The safest course of action is for RIAs to retain all communicationsto clients, from clients, and about client accounts. To comply with fiduciary obligations, communications must be thorough and not mislead.
Few issues remain more controversial these days than whether the Securities and Exchange Commission should impose a fiduciary standard on all advice givers. But for those who have already embraced putting their clients first, putting a fiduciary standard into action can be less than simple. Again this year, fi360 is sponsoring, and AdvisorOne is supporting, a competition in which thought leaders on the fiduciary standard are invited to submit written papers to inform the community’s discussion on the many facets of fiduciary in practice.
The deadline for submission is March 12, 2012; you can learn more here.
The author of the winning paper will receive a cash prize of $1,000 and will be honored at fi360’s annual conference, which will be held this year in Chicago from April 25-27. In addition, the winning paper and others submitted will be considered for publication on AdvisorOne, whose editors will be participating in the judging of the submitted papers along with fi360 and its CEO, Blaine Aikin (left).
All acceptable submissions from AIF or AIFA designees will be available for public viewing on fi360.com along with biographical and contact information for the author.
As last year, all articles must focus on helping fiduciaries better understand and perform their roles or advocate for higher standards of care. While articles may be as general or specific in nature as the author desires, articles that are timely or tied to specific topics are more likely to be accepted for publication.
For more information on the competition, and to see papers already submitted this year, please visit the competition home page.