Topics:

Litigation

• Appeals Court Vacates SEC’s Proxy Access Rule
• Supreme Court Rules on Who Is the “Maker” of Statements Under Section 10(b)

New Rules, Proposed Rules and Guidance

• SEC Issues Concept Release Relating to the Use of Derivatives by Investment Companies
• FINRA Issues Additional Guidance on Social Media Websites
• SEC Adopts Rule Relating to “Large Traders”
• FINRA Proposes New Rules Relating to Member Firms’ Communications with the Public
• SEC Adjusts the Dollar Amount Thresholds and Proposes Rule Amendments Relating to Investment Adviser Performance Fees
• SEC Adopts Rules Relating to Investment Adviser Registration
• SEC Adopts Rule Defining “Family Office” Adviser
• CFTC and SEC Issue Guidance to Address Dodd-Frank Act Swap Provisions

Other News

• GAO Submits Report on Mutual Fund Advertising
• Office of Inspector General Releases Report on Compliance with SEC Exemptive Orders and No-Action Letters

Enforcement Actions

• Janney Montgomery Scott Charged for Failure to Maintain and Enforce Policies to Prevent Misuse of Material, Nonpublic Information
• Morgan Keegan Settles Fraud Charges Related to Valuations of Subprime Mortgage-Backed Securities
• SEC Charges Investment Adviser with Undisclosed Cash Payments

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