More On Legal & Compliancefrom The Advisor's Professional Library
- The Custody Rule and its Ramifications When an RIA takes custody of a clients funds or securities, risk to that individual increases dramatically. Rule 206(4)-2 under the Investment Advisers Act (better known as the Custody Rule), was passed to protect clients from unscrupulous investors.
- Whistleblowers A whistleblower is any individual providing the SEC with original information related to a possible violation of federal securities law. The Dodd-Frank Act established a whistleblower program that enables the SEC to reward individuals who voluntarily provide such information.
The Bank of Canada, the Bank of England, and the European Central Bank will all take part in the temporary liquidity setup. The arrangements are intended to ease liquidity in light of the market unease late last week as the bailout of Greek sovereign debt was announced and fear spread about which other countries, banks and markets could also be affected. Saturday May 8, the European Union announced a bailout for Greece that amounted to about $1trillion.