More On Legal & Compliance
from The Advisor's Professional Library- How to Avoid Sabotaging Your Compliance Exam There is much more to compliance examination survival than knowing all of the rules. It helps to understand why the rules were put in place—and to recognize that examiners are not the enemy.
- Nothing but the Best Execution Along with the many other fiduciary obligations owed by RIAs, firms owe a duty to seek best execution of clients’ transactions. If they fail to do, RIAs violate Section 206 of the Investment Advisers Act.
The Senate confirmed on June 27 three new SEC commissioner nominees. Elisse
Walter, senior VP of Regulatory Policy & Programs at FINRA, has been
confirmed to be an SEC Commissioner with her term expiring June 5, 2012.
Luis Aguilar, a partner with the law firm McKenna Long & Aldridge in
Atlanta, has also been confirmed as an SEC commissioner, serving a term
which will expire June 5, 2010. Aguilar's broadly-based practice concerns
general corporate and business law, international transactions, investment
companies and investment advisors, securities law, and corporate finance.
The third new SEC commissioner will be Troy Paredes, a professor of law at
Washington University in St. Louis. His term will expire June 5, 2013. No
dates on when the three new commissioners would begin their terms were made
available by the Senate or the SEC.
