More On Legal & Compliance
from The Advisor's Professional Library- Registration Requirements for Investment Advisor Representatives (IARs) When individuals launch an advisory firm, they must avoid marketing themselves or the firm as investment advisors before they are properly approved and registered. Otherwise, they are subject to severe penalties.
- Updating Form ADV and Form U4 When it comes to disclosure on Form ADV, RIAs should assume information would be material to investors. When in doubt, RIAs should disclose information rather than arguing later with securities regulators that it was not material.
Senate Republicans on Thursday, April 22, blocked debate on legislation that would bring about sweeping financial reform, so Democrats called for a procedural vote on Monday evening to break the Republican filibuster.
Mitch McConnell, Senate Republican leader from Kentucky, objected to the Democrats trying to force debate while negotiations on the bill by Senator Christopher Dodd (D-Connecticut) were still continuing.
Senate Majority Leader Harry Reid of Nevada responded that Democrats had tried for two months to reach a deal with Republican members on the banking committee and that he was ready to test Republicans to see if all 41 would vote against the bill moving to the full Senate.
Read a news item on President Obama's speech on financial reform in New York on InvestmentAdvisor.com.
