The SEC this week adopted final crowdfunding rules that will allow small businesses to raise capital from investors - including possibly your clients - through web portals. Many of your clients will likely not be interested in making these investments, but smart advisers will be ready with at least some answers for those who are.
There are lots of ways to charge fees to clients, but only a few are legal.
Dont make the mistake of thinking that if you act as your own broker-dealer, you can skimp on your best execution analyses.
As fiduciaries, advisers are required to act in the best interests of their clients. That can get tricky when effecting cross trades between two funds. How do you get each the best deal without harming the other?
It's a conundrum: Your new client wants you to use its long-established broker-dealer to execute all his trades. And he expects you to achieve best execution in managing his account. How can you be sure you meet both obligations?
It’s not easy meeting your best execution duties for fixed-income securities. Fixed-income security trades raise difficult best execution issues for investment advisers for many reasons, not least that they often are conducted over the counter, rather than through a central securities exchange. This results in less transparency of pricing and other important information that managers […]
When youre trying to achieve best execution with non-traditional – i.e. anything other than exchange-traded equities – assets, theres not a lot of guidance.A panel of experts at the recent ACA Compliance Group/ACA Insight Spring Compliance Conference offered some approaches to the task of assessing just what comprises best execution.Best execution evaluates all the available […]
“This is an area where judgment is as important as understanding,” said Mayer Brown partner Elizabeth Knoblock. “Were talking about price and a lot of qualitative and quantitative factors,” she said.That observation began a best execution dialog among Knoblock, SEC Division of Investment Management Chief Counsel Doug Scheidt, and Clearbridge Advisors CCO Barbara Manning at […]
When the SECs examination staff comes calling, theyve got a few specific things in mind when it comes to best execution practices. At the recent Investment Adviser Association/ACA Insight Compliance Forum on February 25, SEC Denver associate regional director Kevin Goodman described what some of those things might be.Regardless of the security type, we dont […]
Electronic tradings state of the art – the flash order – recently has come under Congressional and regulatory scrutiny.A flash order is a trade that is “flashed” to a select group of high-frequency traders milliseconds in advance of delivery to the market as a whole. Sophisticated high-speed computers can process that information for traders with […]