More On Legal & Compliancefrom The Advisor's Professional Library
- Where Are We Headed? The ultimate compliance goal is to help ensure that everyone associated with an advisory firm acts ethically at all times. Advisors and RIAs should do the right thing, even when regulators are not looking over their shoulders.
- Use and Misuse of Social Media Social media is an inexpensive and effective way to communicate with established and prospective clients. Nevertheless, when RIAs utilize social media to promote their advisory practices, they risk compliance problems for their firms.
Senate Finance Committee Chairman Max Baucus, D-Mont., announced Wednesday that he will convene a hearing on Feb. 13 to consider the nomination of White House Chief of Staff Jacob “Jack” Lew to be the next Treasury Secretary.
Lew is sure to face a tough grilling from lawmakers, as President Barack Obama’s recent swath of nominations have been challenged by the courts.
Baucus, while in favor of Lew as Timothy Geithner’s replacement, said in a statement that he will question Lew about his experience, his views on fiscal policy and ideas for spurring economic growth.
“We have a tremendous amount of work to do over the next couple months to get our fiscal house in order. It is my hope that—after a thorough vetting process—Jack Lew will be quickly confirmed so he can help tackle our country’s pressing economic issues,” Baucus said.
President Obama nominated Lew on Jan. 10 to replace the retiring Treasury Secretary Geithner.
Geithner plans to write a book about the U.S. response to the 2008 financial crisis, according to Bloomberg.
Geithner, 51, will write about his decision-making role at the Treasury the last four years and as president of the Federal Reserve Bank of New York from 2003 to 2009, Bloomberg reported Wednesday.
Geithner also plans to join the Council on Foreign Relations in February as a full-time distinguished fellow in New York, the news agency reported.