United States: SEC Proposes to Amend Rules Relating to Fees Paid for Marketing and Distribution of Mutual Fund Shares (Financial Services Alert - Developments of Note)
SEC Proposes to Amend Rules Relating to Fees Paid for Marketing
and Distribution of Mutual Fund Shares
SEC Issues Concept Release on the U.S. Proxy System
DOL Issues Interim Final Regulations Regarding Service Provider
Fee Disclosure
SEC Adopts Amendments to Form ADV Part 2 Including Electronic
Filing Requirement
SEC Requests Comment on Adviser and Broker-Dealer Standards of
Care for Retail Customers
DEVELOPMENTS OF NOTE
SEC Proposes to Amend Rules Relating to Fees Paid for Marketing
and Distribution of Mutual Fund Shares
The SEC recently proposed to eliminate Rule 12b-1 under the
Investment Company Act of 1940 (the "1940 Act"), the rule
that currently allows a registered open-end investment company (a
"mutual fund" or "fund") to pay certain
marketing and distribution expenses from the fund's assets....
Specific Questions relating to this article should be addressed directly to the author.
On 1 September 2010 the High Court handed down its much anticipated decision in the appeal from Re Octaviar Ltd (No 7) [2009] QCA 282. The High Court, consisting of Chief Justice French, and Justices Gummow, Hayne, Kiefel and Bell, unanimously dismissed the appeal in Public Trustee of Queensland v Fortress Credit Corporation (Aus) 11 Pty Ltd [2010] HCA 29.
A Court of Appeal finding late last year that a director breached his director’s duty by selling an asset in a failing business when he knew that the company would be unable to meet the ensuing GST obligation has since filtered through into IRD practice.
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A decree on issuance of Government bonds, Government-guaranteed bonds and local administrations' bonds has been drafted ("Draft Decree") to provide guidelines on implementation of the Law on Public Debt Management adopted by the National Assembly of Vietnam in June 2009.
Vietnam has an urgent need to upgrade and develop its infrastructure. However, having attained middle income status, the nation is likely to receive less official development assistance in the coming years.
Title X of the Act is known as the "Consumer Financial Protection Act of 2010." This portion of the legislation establishes the Bureau of Consumer Financial Protection (the "Bureau"), an independent bureau within the U.S. Federal Reserve to regulate consumer financial products and services that are offered or provided for use by consumers primarily for personal, family or household purposes, or that are delivered, offered or provided in connection with a consumer financial product or service.
This "Alert" summarizes Subtitle H of Title IX, designated "Municipal Securities," of the Act. References herein are made to sections 975 through 979 of Subtitle H.
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