Topics:

New Rules, Proposed Rules and Guidance

• SEC Extends Temporary Rule Regarding Adviser Principal Trades
• Treasury Issues Determination Exempting Foreign Exchange Swaps and Foreign Exchange Forwards from the Definition of "Swap"

Other News

• IDC Issues White Paper on Board Oversight of Exchange-Traded Funds
• Professional Organizations Issue Guidance to Audit Committees Regarding Evaluation of External Auditors

Litigation and Enforcement Actions

• SEC Charges Adviser with Federal Securities Law Violations Relating to Use of Options Contrary to Fund's Strategies and Policies
• District Court Allows Claim of Excessive Investment Management Fees to Proceed
• District Court Rules on Industry Challenges to CFTC Rule 4.5
• SEC Charges Eight Fund Directors for Failure to Properly Oversee Fair Valuations

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