scholarly journals SEC Regulation of Foreign-Domiciled Investment Advisers: A Study of the Policy Vision Inspiring the Unibanco Letter

2018 ◽  
Author(s):  
John H. Walsh
Keyword(s):  
Investment Advisers ◽  
Sec Regulation ◽  
Policy Vision

CFTC harmonization rules: CPOs of RICs benefit from “substituted compliance”

2014 ◽  
Vol 15 (1) ◽  
pp. 17-24
Author(s):  
Daphne G. Frydman ◽  
Raymond A. Ramirez
Keyword(s):  
Securities And Exchange Commission ◽  
Futures Trading ◽  
Content Type ◽  
Investment Companies ◽  
Commodity Futures Trading Commission ◽  
Foreign Corporations ◽  
Investment Advisers ◽  
Sec Regulation ◽  
Asset Managers ◽  
Practical Implications

Purpose – To explain regulatory developments and changes to compliance obligations for asset managers registered with the Commodity Futures Trading Commission (CFTC) as commodity pool operators of registered investment companies. Design/methodology/approach – Provides a general overview of new CFTC rules (Harmonization Rules) that afford relief to commodity pool operators of commodity pools that are registered as investment companies under the Investment Company Act of 1940; describes the specific CFTC disclosure, reporting and recordkeeping requirements that remain applicable to commodity pool operators that are also subject to Securities and Exchange Commission (SEC) regulation by virtue of operating commodity pools that are registered investment companies; discusses reliance on substituted compliance with applicable SEC requirements; outlines the method for claiming relief under the Harmonization Rules; provides guidance for CPOs of RICs that use controlled foreign corporations (CFCs). Findings – CPOs of RICs benefit from “substituted compliance” under the CFTC Harmonization Rules. Practical implications – Explains to investment advisers that have registered as CPOs of RICs the disclosure, reporting and recordkeeping obligations that apply to them, how to take advantage of compliance with SEC requirements in lieu of CFTC requirements, and how to claim relief with respect to certain CFTC compliance obligations. Originality/value – Practical explanation by experienced derivatives and securities lawyers.

Presidents and the Dissolution of the Union

2013 ◽  
Author(s):  
Fred I. Greenstein ◽  
Dale Anderson
Keyword(s):  
Civil War ◽  
Organizational Capacity ◽  
The United States ◽  
Abraham Lincoln ◽  
George Washington ◽  
Personal Strengths ◽  
History Of ◽  
Civil War Era ◽  
American Leader ◽  
Policy Vision

The United States witnessed an unprecedented failure of its political system in the mid-nineteenth century, resulting in a disastrous civil war that claimed the lives of an estimated 750,000 Americans. This book assesses the personal strengths and weaknesses of presidents from George Washington to Barack Obama. The book evaluates the leadership styles of the Civil War-era presidents. The book looks at the presidential qualities of James K. Polk, Zachary Taylor, Millard Fillmore, Franklin Pierce, James Buchanan, and Abraham Lincoln. For each president, the book provides a concise history of the man's life and presidency, and evaluates him in the areas of public communication, organizational capacity, political skill, policy vision, cognitive style, and emotional intelligence. The book sheds light on why Buchanan is justly ranked as perhaps the worst president in the nation's history, how Pierce helped set the stage for the collapse of the Union and the bloodiest war America had ever experienced, and why Lincoln is still considered the consummate American leader to this day. The book reveals what enabled some of these presidents, like Lincoln and Polk, to meet the challenges of their times—and what caused others to fail.

Let’s Make Investment Advisers Accountable!

1973 ◽  
Vol 29 (1) ◽  
pp. 19-22
Author(s):  
Harry L. Nelson
Keyword(s):  
Investment Advisers

Limits to Dominance?

2017 ◽  
Keyword(s):  
Communication Skills ◽  
Electoral System ◽  
Tony Blair ◽  
Prime Ministers ◽  
Margaret Thatcher ◽  
Capital Building ◽  
Low Levels ◽  
Very High ◽  
Over Time ◽  
Policy Vision

This chapter compares the leadership capital of two long-serving UK prime ministers: Tony Blair and Margaret Thatcher, treble election winners who held office for a decade. Mapping their capital over time reveals two very different patterns. Thatcher began with low levels of capital, building to a mid-term high and final fragile dominance, though her capital fell between elections. Blair possessed very high levels from the outset that gradually declined in a more conventional pattern. Both benefited from electoral dominance and a divided opposition, Thatcher’s strength lay in her policy vision while Blair’s stemmed from his popularity and communication skills. The LCI reveals that both prime ministers were successful without being popular, sustained in office by the electoral system. Towards the end of their tenures, both leaders’ continued dominance masked fragility, ousted when unrest in their parties and policy unpopularity eroded their capital.

Fiduciary Principles in Investment Advice

2019 ◽  
pp. 144-165
Author(s):  
Arthur B. Laby
Keyword(s):  
Fiduciary Duty ◽  
Duty Of Care ◽  
Complex Nature ◽  
State Law ◽  
Fiduciary Duties ◽  
Legal Obligations ◽  
Standards Of Conduct ◽  
Investment Advisers ◽  
Definition Of ◽  
Investment Advice

This chapter examines the fiduciary principles governing investment advice. Fiduciary principles in investment advice are both straightforward and complex. They are straightforward because most investment advisers are considered fiduciaries and subject to strict fiduciary duties under federal and state law. Their complex nature arises from the fact that many individuals and firms provide investment advice but are not deemed investment advisers and, therefore, are not subject to a fiduciary obligation. This chapter first explains whether and when an advisory relationship gives rise to fiduciary duties by focusing on both federal and state law, as well as the individuals and firms that typically provide investment advice. In particular, it looks at certain persons and entities excluded from the definition of investment adviser and thus not subject to the Investment Advisers Act of 1940, namely broker-dealers, banks, and family offices as well as accountants, lawyers, teachers, and engineers. The chapter also considers fiduciaries under ERISA, the Investment Company Act, and the Commodity Exchange Act before discussing the fiduciary duty of loyalty and how it is expressed and applied in investment advisory relationships; the fiduciary duty of care and how it differs from other standards of conduct, such as a duty of suitability; and other legal obligations imposed on investment advisers and how those obligations relate to an adviser’s fiduciary duty. Finally, the mandatory or default terms with regard to an investment adviser’s fiduciary duties are explored, along with remedies available for breach of fiduciary duty.

OCIE issues risk alert on the most frequently identified advisory fee and expense compliance issues

2018 ◽  
Vol 19 (4) ◽  
pp. 1-3
Author(s):  
Robert Van Grover
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Investment Management ◽  
Content Type ◽  
Informed Decisions ◽  
Policies And Procedures ◽  
The Us ◽  
Investment Advisers ◽  
Practical Implications

Purpose To summarize and interpret a Risk Alert issued on April 12, 2018 by the US SEC’s Office of Compliance Inspections and Examinations (OCIE) on the most frequent advisory fee and expense compliance issues identified in recent examinations of investment advisers. Design/methodology/approach Summarizes deficiencies identified by the OCIE staff pertaining to advisory fees and expenses in the following categories: fee billing based on incorrect account valuations, billing fees in advance or with improper frequency, applying incorrect fee rates, omitting rebates and applying discounts incorrectly, disclosure issues involving advisory fees, and adviser expense misallocations. Findings In the Risk Alert, OCIE staff emphasized the importance of disclosures regarding advisory fees and expenses to the ability of clients to make informed decisions, including whether or not to engage or retain an adviser. Practical implications In light of the issues identified in the Risk Alert, advisers should assess the accuracy of disclosures and adequacy of policies and procedures regarding advisory fee billing and expenses. As a matter of best practice, advisers should implement periodic forensic reviews of billing practices to identify and correct issues relating to fee billing and expenses. Originality/value Expert guidance from experienced investment management lawyer.

Assistant or substitute: Exploring the fit between national policy vision and local practice realities of assistant practitioner job descriptions

Health Policy ◽  
2009 ◽  
Vol 90 (2-3) ◽  
pp. 286-295 ◽  
Author(s):  
Ann Wakefield ◽  
Karen Spilsbury ◽  
Karl Atkin ◽  
Hugh McKenna ◽  
Gunilla Borglin ◽  
...  
Keyword(s):  
National Policy ◽  
Job Descriptions ◽  
Local Practice ◽  
Policy Vision ◽  
Assistant Practitioner
Sign in / Sign up

Export Citation Format

Share Document