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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

Topics:

New Rules, Proposed Rules and Guidance

  • SEC Proposes Rules Relating to Investment Adviser Registration
  • SEC Extends Compliance Date for New Short-Selling Restrictions
  • SEC Proposes Whistleblower Rules Under the Dodd-Frank Act
  • SEC Proposes Rule on Institutional Investment Manager Reporting of Proxy Votes on Executive Compensation
  • FinCEN Extends Compliance Date for AML Travel Rule for Mutual Funds
  • SEC Proposes Rule Defining “Family Office” Adviser
  • SEC Stays Effectiveness of Amendments to Proxy Rules that Facilitate Rights of Shareholders to Nominate Directors
  • SEC Amends Regulation FD as Required by the Dodd-Frank Act
  • CFTC Requests Comments on Amendments to Limit the Use of Futures by Investment Companies

Legislation

  • House Passes Regulated Investment Company Modernization Act of 2010
  • Congress Passes Legislation Limiting Confidentiality Protection for Materials Provided to the SEC

Litigation

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

Other News

  • ICI Challenges Montana Notice Filing Fee Change
  • SEC Staff Opposes Closed-End Fund Use of Maryland Takeover Statute
  • SEC Staff Issues Letter on Director Responsibilities under Affiliated Transaction 
  • President’s Working Group Releases Report on Money Market Funds Rules
  • CFTC and SEC Staff Issue Joint Report on May 6, 2010 Market Events
  • SEC’s Enforcement Head Testifies on Mutual Fund Fee Initiative
  • SEC Staff Issues No-Action Letter on Soft Dollar Arrangements

Enforcement Actions

  • SEC Charges Managing Director of Securities Lending Program
  • SEC Charges Investment Adviser for Books and Records and ADV Violations
  • SEC Charges Investment Adviser, Broker Dealer and CCO for Compliance Violations
  • SEC Charges Hedge Fund Manager with Defrauding Investors by Overvaluing Fund Position
  • Former State Street Employees Charged by SEC for Misleading Investors About Subprime Mortgage Investments
  • SEC Charges Broker-Dealer for Deficient CIP Procedures

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