An essential starting point in avoiding such problems is a fundamental understanding of the Advisers
Act and the Securities and Exchange Commission's (SEC's) rules and interpretations.
Given these risk factors, it pays for every investment adviser
to understand what constitutes fraud under the Investment Advisers
Act of 1940.
At the same time the IRS issued the new penalty policy, the IRS proposed new professional standards for tax advisers
in connection with "tax shelters," which were defined broadly.
Just as broker-dealers are implementing a fee-based compensation choice, CPA financial advisers
have learned that the commission versus fee quandary is a nonstarter.
with existing certifications will undergo the revised process at their next anniversary.
Consistent with their fiduciary duty to clients, investment advisers
should research federal and state records and fund filings to determine whether any of the mutual funds they have recommended to their clients are under investigation or charged with fraudulent activities, (see "Finding Funds Charged with Fraud," at right) or whether any shareholder class-action lawsuits have been filed.
Required information as to the reportable transaction includes: transaction name and registration number (if any); transaction type; identification of a substantially similar listed transaction (if any); number of transactions; name and TIN of any investment conduits; affirmation of certain increases in asset basis (if any); name, contact information and fees paid to promoters and tax advisers
as to the transaction; principal facts surrounding the transaction; expected tax results; and estimated tax benefits.
We are pleased to offer financial advisers
a quant-driven long/short fund alternative managed by SSgA's experienced quantitative equity team," said Bill Umphrey, President of Quantitative Investment Advisors.
REPORT A WIDE VARIETY of compensation arrangements with their outside marketers.
Securities and Exchange Commission (SEC) held a roundtable on regulation of investment advisers
and PLANSPONSOR today announced a joint venture to pre-qualify financial professionals to act as Fiduciary Advisers
and to provide the due diligence and documentation required by the Pension Protection Act of 2006 (PPA).
Those who formally offer advisory services as registered investment advisers
are directly subject to SEC regulation: Running afoul of the commission's advertising rules may result in costly and embarrassing legal problems.
The use of "including" implies that others may be considered tax advisers
; further, the advice at issue may be oral or written, from a paid or unpaid adviser
in taxation or other field.
is a 30-year old investment adviser
that is registered with the Securities and Exchange Commission under the Investment Advisers
Act of 1940.
This generally requires them to register as investment advisers
with either a state agency or with the SEC, based primarily on the amount of assets under management.