Topics:

New Rules, Proposed Rules and Guidance

• SEC Adopts Amendments to Proxy Rules to Facilitate Rights of Shareholders to Nominate Directors
• SEC Proposal Regarding Mutual Fund Distribution Fees
• SEC Adopts Amendments to Part 2 of Form ADV
• 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

Legislation

• Dodd-Frank Wall Street Reform and Consumer Protection Act Enacted
• Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 Enacted

Litigation

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

Other News

• SEC Staff Issues No-Action Letter and Interpretation under Rule 2a-7
• SEC Staff Issues Observations Regarding Fund Derivatives Disclosure
• New California Account Opening Disclosure Requirement
• SEC Supports Sarbanes-Oxley Whistleblower Provisions for Adviser Employees

Enforcement Actions

• SEC Charges Former Audit Partner and Son With Insider Trading

To read the newsletter, click the link below.