Topics include:

New Rules, Proposed Rules and Guidance

• SEC Issues Concept Release Relating to the Role of Transfer Agents to Mutual Funds
• SEC Proposes New Exemptive Rule Governing Funds' Use of Derivatives
• OCIE Issues Risk Alert Regarding Advisers and Funds that Outsource Their CCOs

Litigation and Enforcement Actions

• FINRA Sanctions Barclays Capital for Unsuitable Mutual Fund Transactions and Related Supervisory Failures
• SEC Settles Charges against Wealth Management Businesses for Failing to Disclose Conflicts of Interest Arising from Preferences for Proprietary Funds
• SEC Settles with Investment Adviser over False Performance Claims
• U.S. District Court Grants Defendants' Motion to Dismiss in PIMCO Case Relating to Violation of Investment Policies
• SEC Settles Charges Against Advisory Firms for Failing to Disclose Changes in Investment Strategy of Closed-End Fund
• U.S. District Court Rules on Defendants’ Motion to Dismiss in Schwab Case Relating to Violation of Fundamental Investment Policies

Other News and Developments

• SEC Launches Sweep of High-Yield Bond Funds
• ICI and IDC Survey Shows Fund Boards Follow Strong Governance Practices

To read the Regulatory Update, click the link below.