More On Legal & Compliancefrom The Advisor's Professional Library
- Updating Form ADV and Form U4 When it comes to disclosure on Form ADV, RIAs should assume information would be material to investors. When in doubt, RIAs should disclose information rather than arguing later with securities regulators that it was not material.
- Registration Requirements for Investment Advisor Representatives (IARs) When individuals launch an advisory firm, they must avoid marketing themselves or the firm as investment advisors before they are properly approved and registered. Otherwise, they are subject to severe penalties.
JPMorgan Chase CEO Jamie Dimon will testify before the Senate Banking Committee on June 13 regarding the bank's reported $2 billion trading losses, the committee announced Thursday.
The hearing with Dimon (left) had previously been announced for June 7; however, a Senate Banking Committee spokesman said that June 13 is the only date in June that works for both the Senate Banking Committee and Dimon.
On May 22, committee members heard from the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commisssion (CFTC). At that hearing, both regulators confirmed they were investigating JPMorgan.
The second hearing will be held June 6, with testimony from officials from the Federal Reserve, Federal Deposit Insurance Corp. (FDIC), Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) as well as the Treasury Department.