Topics:

New Rules, Proposed Rules and Guidance

• SEC Proposes Reporting Obligations for Advisers to Private Funds
• SEC Proposes Net Worth Standard for Accredited Investors
• 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

Other News

• SEC Staff Submits Study on Investment Adviser and Broker-Dealer Regulatory Standards
• ICI Issues Comment Letter on President’s Working Group Report on Money Market Funds
• SEC Staff Opposes Closed-End Fund Use of Maryland Takeover Statute
• SEC Staff Issues Letter on Director Responsibilities under Affiliated Transaction Rules

Legislation

• President Obama Signs Regulated Investment Company Modernization Act of 2010

Enforcement Actions

• SEC Charges Merrill Lynch for Misusing Customer Order Information and Charging Undisclosed Trading Fees
• SEC Charges BNY Mellon and Order Desk Manager for Best Execution Failure
• SEC Charges Schwab Advisers and Two Executives with Making Misleading Statements
• 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

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