More On Legal & Compliance
from The Advisor's Professional Library- Privacy Policies and Rules Whether an RIA is SEC or state-registered, the firm must have policies and procedures in effect to protect clients’ privacy. Policies and procedures should explicitly require an RIA to send out its privacy notice each year.
- Recent Changes in the Regulatory Landscape 2011 marked a major shift in the regulatory environment, as the SEC adopted rules for implementing the Dodd-Frank Act. Many changes to Investment Advisers Act were authorized by Title IV of the Dodd-Frank Act.
AIG, the giant insurer that was nationalized by the government because of its exposure to subprime mortgages, said that it has used $90.3 billion of the credit line it received from the Federal Reserve Bank in September. On October 22, AIG's government-appointed CEO, Edward Liddy, said AIG may need more than $122.8 billion to continue operations.
There were published reports that two additional U.S.-based insurers--MetLife, which reports earnings October 29, and Prudential--might seek government funds from the Treasury Department's $700 billion purse to shore up their operations.
In The Netherlands, the big insurer Aegon--parent company of TransAmerica--said it might take advantage of the Dutch government's capital injection program that ING has already tapped into.
