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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

New Rules and Guidance

  • SEC Proposes Rule Amendments to Strengthen the Regulatory Framework for Money Market Funds
  • FinCEN Issues Proposal to Define Mutual Funds as "Financial Institutions"
  • 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

Other News

  • SEC Staff Issues No-Action Letter on TALF Loans for Registered Funds
  • 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

Enforcement Actions

  • FINRA Fines Wachovia Securities $1.4 Million for Prospectus Delivery Failures
  • SEC Charges Madoff Solicitors and Feeder Funds with Fraud
  • SEC Settles Charges Against Evergreen Fund Adviser and Distributor over Alleged Mispricing of Mortgage-Backed Securities
  • SEC Settles Charges Against Investment Adviser Representative for Aiding and Abetting Merrill Lynch’s Antifraud Violations
  • SEC Settles Charges of Aiding and Abetting Adviser’s Fraud with Two Former BISYS Officials
  • 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

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