Personal Financial Planning


The National Association of Securities Dealers (NASD) proposed a rule ( www.nasdr.com/news/pr2004/ ) designed to address inappropriate practices discussed in Joint SEC/NASD Staff Report on Examination Findings Regarding Broker-Dealer Sales of Variable Insurance Products ( www.sec.gov/news/studies/secnasdvip.pdf ), which it released in conjunction with the SEC in June 2004. The report identified situations in which brokers inappropriately recommended variable insurance products to senior citizens and others who couldn’t afford them without obtaining home mortgages. Other questionable practices included brokers’ failure to fully disclose these products’ fees, risks and tax consequences as well as problems related to supervision and training of sales staff and account recordkeeping. The proposed rule would codify and make mandatory related best-practice guidelines NASD had issued previously. Comments are due August 9, 2004.

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Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

CHECKLIST

Being responsive to clients

CPAs and their firms have daily pressures and hectic schedules, but being responsive is crucial to client satisfaction. Leaders in the profession offer advice for CPA firms that want to be responsive to clients.

QUIZ

Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.