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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

Topics:

Litigation

  • Eighth Circuit Adopts a New Standard for Evaluating Mutual Fund Excessive Fee Claims
  • U.S. Supreme Court Agrees to Hear Jones v. Harris Associates

New Rules and Guidance

  • SEC Proposes Amendments to Proxy Rules to Facilitate Rights of Shareholders to Nominate Directors
  • SEC Proposes Amendments to Investment Adviser Custody Rule
  • Implementation of Identity Theft Prevention Programs Delayed Until August 1, 2009

Money Market Fund News

  • U.S. Treasury Extends Temporary Guarantee Program for Money Market Funds
  • ICI Money Market Working Group Issues Report

Other News

  • Mutual Fund Directors Forum Issues Guidance for Directors on the Oversight of Sub-Advisers
  • SEC Staff Speech on Investment Companies’ Use of Derivatives
  • FASB Issues Staff Positions on Fair Value Measurements and Impairments of Securities
  • SEC Issues Additional Guidance Relating to Liquidity Protected Preferred Shares
  • ICI Issues White Paper on Financial Services Regulatory Reform

Enforcement Actions

  • SEC Settles Enforcement Action Against NYLIM Relating to Disclosures to Fund Board During 15(c) Process
  • FINRA Settles Auction Rate Securities Violations with Four Firms
  • SEC Charges Operators of Reserve Primary Fund With Fraud
  • FINRA Fines 25 Firms More Than $2.1 Million for Failures in Mutual Fund Breakpoint Review
  • SEC Charges Madoff Auditors With Fraud
  • SEC Charges Investment Adviser For Inventing a Billion-Dollar Client to Lure New Investors

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