American Institute Of Certified Public Accountants

  

Categories: Banking, Education

Home of the world's greatest party animals. Togas. Keggers. Naked fountain runs. Rumor has it their conferences make the court of Caligula look like a six-year-old's birthday party, but you won't find any of that on their website.

No, instead, their website includes information like they are the largest member association representing the accounting profession in the world, founded in 1887 with 418,000 members practicing in 143 countries. They say they set the ethical standards for the accounting profession, as well as accounting standards for various forms of organizations, from private companies to non-profits to governments. But come on. We know it's all about the parties.

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Finance: What is the Investment Advisers...32 Views

00:00

Finance a la shmoop. What is the Investment Advisors Act of 1940? [The question written on a blackboard]

00:08

All right well a whole lot of acting going on in that 1940 there, best actor Robert [1940s black and white film]

00:13

Donat best actress Vivien Leigh, best investment Act yeah this one well too

00:19

many poor uneducated folks got taken in the market gyrations of the wild stock [Girl looking offended]

00:26

market in the decade and changed before this act happened. So Congress then set

00:30

out a whole bunch of standards under which Investment Advisers must act yeah [Documents from the act]

00:36

see where we got that whole acting thing all right for example investment [The title of the act is highlighted]

00:40

advisors with more than 25 million bucks under their care must register with the [Advisor next to a big sack of money]

00:45

SEC making all of their actions quote aboveboard unquote and making it much

00:50

harder for fast-talkin city slickers to abscond with the hard-earned savings of [Adviser taking money away from people]

00:55

ma and pa farmer. Well the Act also outlined the structure under which

00:59

advisors can charge fees and it created the then path-breaking notion that an

01:05

investment advisor must put the interests of their client ahead of their [Advisor interests above client interests is swapped around]

01:10

own personal interests and this was like a thing back then yeah it sounds

01:14

shocking like you wouldn't need to explicitly state this in a modern polite

01:18

normal society but in fact the wild world of that era while the notion that [People at a show in the 40s]

01:23

you could not in fact actively steal your clients money so now is considered

01:28

liberalism go figure... [Liberalism stamp]

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