More On Legal & Compliancefrom The Advisor's Professional Library
- Client Commission Practices and Soft Dollars RIAs should always evaluate whether the products and services they receive from broker-dealers are appropriate. The SEC suggested that an RIAs failure to stay within the scope of the Section 28(e) safe harbor may violate the advisors fiduciary duty to clients, so RIAs must evaluate their soft dollar relationships on a regular basis to ensure they are disclosed properly and that they do not negatively impact the best execution of clients transactions.
- The New and Improved Form ADV Whether an RIA is describing its investment strategy in advertisements or in the new Form ADV Part 2, it is important the firm articulates material risks faced by advisory clients and avoids language that might be construed as a guarantee.
This never happens!
Balancing a budget – a task that is done by every responsible family in the country – is no doubt more complex at the federal level. But it is hard to believe the 100 senators and 435 representatives cannot come to an agreement on how to run the country when they spend most of their waking hours concentrating on that specific issue.
I blame both sides of the aisle for this embarrassment. I also support the idea of Senator Joe Manchin of West Virginia to stop paying the Congress until a resolution is reached. And that means no back pay.
The result of this deadlock is serious and includes higher rates on Treasury debt; a flight of investment capital to more stable countries; and the cessation of essential government services.
There are no winners in this fight. Have we really lost the ability to govern ourselves?
The American Taxpayer