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  • U.S. Supreme Court Rules in Jones v. Harris Associates; Vacates and Remands Gallus v. Ameriprise Financial
  • Court Allows Class Action Against Evergreen Entities and Fund Trustees to Proceed
  • District Court Judge Rules in Favor of Plaintiffs in Schwab YieldPlus Fund Case
  • First Circuit Rejects the SEC’s Interpretation of Rule 10b-5
  • Second Circuit Vacates Dismissal of Section 10(b) Claims Against Citigroup Entities, Affirms Dismissal of Section 36(b) Claims
  • Court Rules State Market Timing Claims Precluded by SLUSA

New Rules, Proposed Rules and Guidance

  • SEC Releases AML Guidance on Beneficial Ownership Information
  • SEC Adopts Restrictions to Short-Selling Practices
  • SEC Adopts Amendments to Rules Requiring Internet Availability of Proxy Materials
  • SEC Adopts Money Market Fund Reforms
  • FINRA Provides Guidance on Blogs and Social Networking Websites


  • Senate Committee Approves Restoring American Financial Stability Act of 2010
  • Congressman Introduces Banking Integrity Act

Other News

  • SEC Staff Evaluating the Use of Derivatives by Funds
  • Closed-End Fund May Not Exclude Shareholder Proposal to Amend Bylaws Directing Board to Terminate Advisory Agreement
  • IDC Issues Task Force Report on Board Oversight of Subadvisers
  • SEC Makes Enforcement Changes

Enforcement Actions

  • SEC Charges Madoff’s Director of Operations with Falsifying Accounting Records and Siphoning Investor Funds
  • SEC Charges State Street for Misleading Investors About Subprime Mortgage Investments
  • SEC Charges Advisers for Unlawful Short Selling Practices
  • SEC Files Settled Insider Trading Charges Against Evergreen Insider
  • SEC Settles Charges Against Adviser’s CFO/CCO for Aiding and Abetting Adviser’s Fraud
  • SEC Settles Charges Against Investment Adviser Representative for Aiding and Abetting and Causing Morgan Stanley’s Advisers Act Violation

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