More On Legal & Compliancefrom The Advisor's Professional Library
- Risk-Based Oversight of Investment Advisors Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.
- 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.
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.