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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

Topics:

Litigation

  • Funds Face Lawsuits Over Payments to Distributors; California Court Dismisses First Case

New Rules, Proposed Rules and Guidance

  • SEC Adopts New Rule to Curtail Adviser “Pay to Play” Practices
  • NFA Proposes Amendment to Restrict Exclusions from the Commodity Pool Operator Definition for Investment Companies
  • SEC Proposes Amendments Regarding Target Date Fund Marketing Materials
  • Implementation of Identity Theft Prevention Programs Further Delayed Until December 31, 2010

Legislation

  • Senate Approves Restoring American Financial Stability Act of 2010

Other News

  • Closed-End Fund Loses Battle to Omit Shareholder Proposal in Proxy Statement
  • Mutual Fund Directors Forum Issues Practical Guidance for Fund Directors on Effective Risk Management Oversight
  • IDC Issues Memorandum on Board Oversight of Target Retirement Date Funds

Enforcement Actions

  • Fund Portfolio Manager Charged with Tipping Family Members
  • FINRA Fines HSBC Securities (USA) and US Bancorp Investments for Auction Rate Securities Violations
  • FINRA Files Complaint Against Morgan Keegan for Misleading Customers Regarding Risks of Bond Funds

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