Topics:

New Rules, Proposed Rules and Guidance

• SEC Extends Compliance Date for Initial Delivery of Form ADV Brochure Supplements
• SEC Extends Temporary Rule Regarding Adviser Principal Trades
• SEC Proposes Rules Relating to Investment Adviser Registration
• SEC Extends Compliance Date for New Short-Selling Restrictions
• SEC Proposes Whistleblower Rules Under the Dodd-Frank Act
• SEC Proposes Rule on Institutional Investment Manager Reporting of Proxy Votes on Executive Compensation
• FinCEN Extends Compliance Date for AML Travel Rule for Mutual Funds
• SEC Proposes Rule Defining “Family Office” Adviser
• SEC Stays Effectiveness of Amendments to Proxy Rules that Facilitate Rights of Shareholders to Nominate Directors

Legislation

• President Obama Signs Regulated Investment Company Modernization Act of 2010

Other News

• SEC Staff Opposes Closed-End Fund Use of Maryland Takeover Statute
• SEC Staff Issues Letter on Director Responsibilities under Affiliated Transaction Rules
• President’s Working Group Releases Report on Money Market Funds

Enforcement Actions

• SEC Charges Managing Director of Securities Lending Program
• SEC Charges Investment Adviser for Books and Records and Form ADV Violations
• SEC Charges Investment Adviser, Broker Dealer and CCO for Compliance Violations
• SEC Charges Hedge Fund Manager with Defrauding Investors by Overvaluing Fund Position

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