Regulatory upheaval: electronic filing, client privacy top list of changes in federal law.

Investment News, March, 2001

After years of little change in federal law affecting registered investment advisers, they now confront two significant new initiatives on electronic filing and client privacy, said lawyer Jeffrey Kelvin. Kelvin, president of Financial Planners Assistance Corp. in Delray Beach, Fla., said he had been a tax attorney who got "burned out" on constant changes in tax law.

Now, as a result of the National Securities Market Improvement Act (NSMIA) and the Gramm-Leach-Bliley Act, federal law covering financial advisers also has changed significantly, "We're entering an era where there's lots of things happening," Kelvin said in discussing "The Compliance Crunch: Recent Developments Under the Securities Laws." "I don't know whether it's a good thing or a bad...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.