Nancy Johnson, a planner and FPA Board member, provided this list of some of the regulatory and compliance issues that will be addressed by the new broker/dealer organization spun off from the FPA.
03-33 Instant Messaging: clarification by NASD of the supervisory obligations and recordkeeping requirements for instant messaging.
03-17 Municipal Fund Securities: clarification on the treatment of sales material for municipal fund securities such as 529 plans.
03-07 Hedge Funds: clarification of disclosure requirements, suitability determinations, supervision of those selling hedge funds and funds of hedge funds, and the training of sales staff regarding features, risks, and suitability of hedge funds.
03-34 Anti-Money Laundering: rule regarding customer ID procedures at B/Ds.
03-29 Compliance Officer: a proposed rule to require members to designate a chief compliance officer who will, with the CEP, certify annually that there are adequate compliance and supervisory policies and procedures in place.
(For details on the above issues, go to http://cchwallstreet.com/NASD)