What Investment Advisors Need to Know About 408(b)(2)

In December 2007, a proposed rule was published concerning the disclosures that must be furnished to plan fiduciaries in order for plan services to be considered “reasonable.” Following a public comment period, public hearing, and interim final rule published in July 2010, the final rule became effective July 1. This…more

Alternative to GIPS for Investment Performance Credibility

Many investment advisors follow the Global Investment Performance Standards (GIPS) to bolster the credibility of their performance results.  However, not all firms are able to claim compliance with GIPS.  A non-GIPS examination report can add credibility to a firm’s performance results without the firm having to apply the…more

Decoding GIPS

Global Investment Performance Standards (GIPS) are broadly accepted, voluntary global standards for calculating and presenting investment performance. The standards are ethical principles that promote fair representation and full disclosure of investment performance to prospective clients.

By standardizing investment performance reporting, investors around the world gain the additional transparency needed to…more

GIPS Executive Update

On Friday, January 29, 2010, the GIPS Executive Committee (EC) approved the 2010 version of the GIPS standards. The EC, which serves as the decision-making authority for the GIPS standards, continually updates the standards through interpretations, guidance, and new provisions. In 2008, the EC (working with technical committees and…more

An Overview of Securities Lending

What Is Securities Lending?
Securities lending is the temporary transfer of securities by one party (the lender, also called the “beneficial owner”) to another (the borrower).

The borrower is obligated to return the securities to the lender, either on demand, or at the end of an agreed upon term.


GIPS Error Correction Implementation Guidance

In 2008, the GIPS Guidance Statement on Error Correction (the Guidance Statement) was adopted. The effective date of this guidance statement is January 1, 2010. We have summarized some of the key points of the Guidance Statement below and have provided additional implementation considerations. Please feel free to contact us…more

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