5/24/2010
Financial regulatory reform legislation would give the SEC the ability to end the standard industry practice of forcing upon upset investors mandatory arbitration to settle disputes. New data indicate investors would welcome such a move.More than 6 in 10 investors who have gone through securities ar ...
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4/26/2010
Among the hundreds of firms that have stamped their John Hancock onto the six-year old broker protocol are an increasing number of RIAs. The trend of breakaway brokers (IA Watch, March 22, 2010), along with the protocol's raison d'être - set rules for taking clients and avoiding litigation - explain ...
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02/02/2010
An example of elements to fold into subadviser agreements from a 2010 Board Oversight of Subadvisers report by the Independent Directors Council.
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12/17/2009
Here is an example of an investment policy statement shared by one of your peers.
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11/30/2009
The investor, a religious group, placed restrictions upon the investment adviser managing its account: buy no tobacco stocks. A purchase of Sara Lee securities seemed as sweet as a jelly roll - until it was discovered that the corporation owned a 1% interest in a pipe tobacco company in The Netherla ...
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10/21/2009
An example of a web-service agreement provided by one of your peers. Some suggest you have clients sign agreements like this and maintain them as a best practice to show that clients have consented to the rules of using a password-protected section of your firm's Web site.
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2/9/2009
Two of the lessons from the failure of Lehman Brothers last year are (1) contract with more than one broker and (2) know where your clients' money ends up (IA Week, Jan. 26, 2009).That latter lesson derives from the apocalypse many experienced after Lehman left us: they actually were contracted with ...
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1/26/2009
The lessons from the failure of Lehman Brothers keep growing (IA Week, Nov. 11, 2008). The sad tale recounts the risks to counterparties who believed protections existed only to discover mirages.One such unrealized sanctuary was the bankruptcy code's special close-out, anti-stay and anti-avoidance p ...
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1/19/2009
The effects of last year may linger as mutual fund directors review your contracts. For example, some may move to change or eliminate the expense cap because of redemptions or declining values.Andrew Donohue, director of the SEC's Division of Investment Management, urged directors to meet their 15(c ...
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11/10/2008
Lehman Brothers' collapse in September echoes through the industry like a clanging bell, serving notice of the need to know where your funds are being held and how to get to them when you need them.Lesson 1: Amend your prime brokerage agreements. "The prime brokerage model is fundamentally changing, ...
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