More On Legal & Compliance
from The Advisor's Professional Library- Advertising Advisor Services and Credentials Section 206 of the Investment Advisers Act contains the anti-fraud provision of the statute and ensures that RIAs’ advertising and marketing practices are consistent with the fiduciary duty owed to clients and prospective clients.
- RIAs and Customer Identification Just as RIAs owe a duty to diligently protect their clients’ privacy and guard against theft, firms also play a vital role in customer identification. Although RIAs are not subject to an anti-money laundering rule, securities regulators expect advisors to address these issues in their policies and procedures.
NAVA, Inc., the Association for Insured Retirement Solutions, has a new president and CEO, Catherine Weatherford. She will replace Mark Mackey, who announced his resignation from NAVA in January of this year, on September 3. NAVA says that Mackey will remain with the organization over the short term to assist in the transition.
Weatherford previously served as executive VP and CEO of the National Association of Insurance Commissioners (NAIC), a position she held for 12 years. She has more than 31 years of experience in insurance regulation, government and public policy, according to NAVA.
Clifford Jack, chairman of NAVA, said in a release that "Cathy emerged as the clear choice for a number of reasons. During her 12-year tenure as CEO of the NAIC, Cathy helped unite the group's members into one voice and bring the association to the forefront of insurance regulation issues. I am confident in her ability to achieve the same level of success at NAVA while maintaining the organization's progress on key technology, regulatory and trade group partnership initiatives."
