FindLaw | Find a Lawyer. Find Answers.

Library Search

• Securities and Exchange Commission Proposal to Require Hedge Fund Advisers to Register ( August 2004 )
  

  On July 14, 2004, the Securities and Exchange Commission ("Commission") voted 3-2 to propose new rule 203(b)(3)-2 under the Investment Advisers Act of 1940, as amended ("Advisers Act") to require hedge fund advisers to register with the Commission. The Commission also voted to propose certain conforming and transitional amendments to rules 203(b)(3)-1, 204-2, 205-3, 206(4), and Form ADV. The proposal will be open to public comment for 60 days and must be voted on again by the Commission before it can be adopted.

• SEC Adopts Final Rule Requiring Investment Advisers to Adopt Codes of Ethic ( August 2004 )
  

  On July 2, 2004, the SEC adopted Rule 204A-1 under the Investment Advisers Act of 1940 and related amendments that require registered investment advisers to adopt a code of ethics.  The new rule is designed to address certain fraudulent trading practices that have been the subject of several recent enforcement actions against investment advisers and to reinforce the fiduciary principles that define the relationship between advisers and their clients

• Imposing Corporate Governance Reform: The SEC Takes Action ( November 2003 )
  

  The partial settlement announced on November 13, 2003 between the Securities and Exchange Commission and Putnam Investment Management LLC highlights a significant trend in recent enforcement actions: the imposition of substantial corporate governance reforms and related independent monitoring of these required changes. While criticized by state officials in New York and Massachusetts as not being tough enough, the Putnam settlement details sweeping, and for the most part, voluntary changes to its boardroom in terms of composition, process and procedure. The SEC emphasized these voluntary remedial efforts and undertakings as part of its decision to accept Putnam’s offer of settlement. Understanding these specific reforms provides insight into what non-monetary terms the SEC may expect or require in the current regulatory environment.

• Imposing Corporate Governance Reform:The SEC Takes Action ( November 2003 )
  

  The partial settlement announced on November 13, 2003, between the Securities and Exchange Commission and Putnam Investment Management LLC highlights a significant trend in recent enforcement actions: the imposition of substantial corporate governance reforms and related independent monitoring of these required changes. Understanding these specific reforms provides insight into what non-monetary terms the SEC may expect or require in the current regulatory environment.

• Investment Advisers Required To Adopt Proxy Voting Policies And Procedure ( February 2003 )
  

  Under new rules adopted by the Securities and Exchange Commission, investment advisers will be required to adopt policies and procedures reasonably designed to ensure that proxies are voted in the best interests of clients.

• Proposed Rules Requiring Investment Companies and Investment Advisers to Adopt "Compliance Programs" ( July 2003 )
  

  The Securities and Exchange Commission is proposing new rules that would require each investment company and investment adviser registered with the Commission to adopt and implement policies and procedures designed to prevent the violation of federal securities laws and to protect fund investors.

• Settlement of NASDAQ Litigation ( December 1999 )
  

  This Client Alert discusses the "Notice Regarding Proposed Plan of Distribution, Hearing and Proof of Claim" issued by the US District Court for the Southern District of New York on June 11, 1999.

• Public Pension Funds may Face Sec "Pay-to-Play" Rules ( March 1999 )
  

  Making good on a promise by its chairman (see C&C Newsletter for February, 1999, Item 2), the Securities and Ex.

• Thelen Reid Report No. 384: Employee Benefit Plans, Investment Advisers, And The Year 2000 Problem ( August 1998 )
  

  This article warns investment advisors and employee benefit plan fiduciaries that recent changes in the rules by governmental agencies may have an impact on their preparation for Y2K.