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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

Topics:

Litigation

  • U.S. Supreme Court Hears Jones v. Harris Associates

New Rules, Proposed Rules and Guidance

  • Federal Regulatory Agencies Issue Model Privacy Notice Form
  • SEC Adopts Regulation S-AM
  • Massachusetts Publishes Final Information Security Program Regulations
  • Implementation of Identity Theft Prevention Programs Further Delayed Until June 1, 2010
  • SEC Proposes Amendments to Rules Requiring Internet Availability of Proxy Materials
  • SEC Proposes Rules to Enhance Credit Ratings Disclosure
  • SEC Removes Rule References to Nationally Recognized Statistical Rating Organizations
  • FINRA Requests Comments on Proposed Amendments to Rules Governing Communications With the Public
  • SEC Adopts Rule Requiring Disclosure of Certain Money Market Fund Portfolio Information
  • SEC Proposes Flash Order Ban
  • SEC Proposes Changes to NYSE Corporate Governance Standards

New Legislation

  • House Financial Services Committee Approves Investor Protection Act of 2009
  • Senator Introduces Mutual Fund Transparency Act of 2009
  • House Financial Services Committee Approves Private Fund Adviser Registration

Other News

  • Director of SEC’s Division of Investment Management Comments on Closed-End Fund Issues
  • ICI And IDC Issue Report on Intermediary Relationships
  • IDC Issues Task Force Report on Board Oversight of Fund Compliance

Enforcement Actions

  • FINRA Fines Terra Nova Financial $400,000 for Improper Soft Dollar Payments
  • SEC Charges Investment Adviser and Two Senior Officers for $24 Million Fraudulent Scheme
  • FINRA Settles Auction Rate Securities Violations with Three Firms