More On Legal & Compliancefrom The Advisor's Professional Library
- Using Solicitors to Attract Clients Rule 206(4)-3 under the Investment Advisors Act establishes requirements governing cash payments to solicitors. The rule permits payment of cash referral fees to individuals and companies recommending clients to an RIA, but requires four conditions are first satisfied.
- The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations. When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.
The Senate Finance Committee will convene an open executive session on Wednesday to vote on the new nominations to be members of the Social Security Advisory Board.
The nominees include Henry Aaron, the Bruce and Virginia MacLaury senior fellow in the Brookings Institution Economic Studies Program; Lanhee Chen, a research fellow at the Hoover Institution, lecturer in public policy at Stanford University, and lecturer in law at Stanford Law School; and Alan Cohen, who was the senior budget advisor and chief counselor for Social Security for the U.S. Senate Committee on Finance from 2001 to 2012.
Aaron has also served as assistant secretary for planning and evaluation at the Department of Health, Education and Welfare and chaired the 1979 Advisory Council on Social Security. He received a B.A. from UCLA in political science and economics and holds an M.A. in Russian regional studies and a Ph.D. in economics from Harvard University.
Chen previously was the policy director for the Romney-Ryan presidential campaign, and in 2008 was senior counselor to the deputy secretary at the U.S. Department of Health and Human Services. Chen received an A.B. from Harvard College, an A.M. and Ph.D. in political science from Harvard University and a J.D. from Harvard Law School.
Cohen served from 1993 to 2001 as senior advisor for budget and economics to the secretary of the Treasury. From 1992 to 1993, he was the budget economist for the U.S. Senate Committee on Finance. He received a B.A. from Grinnell College, an M.P.P. from the University of Michigan, and a Ph.D. from the University of Wisconsin.
Check out Replace Social Security or Fix It? on ThinkAdvisor.