Mutual funds’ after-tax returns adjusted for tax on net investment income *

USA - March 28 2013
The SEC staff has announced that reported after-tax returns for mutual funds and exchange-traded funds must be adjusted to reflect the 3.8% tax on…

Co-authors: Terry D. Nelson, Michael G. Dana.

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Mutual fund boards and oversight of fair valuation *

USA - February 27 2013
In a recent newsletter, we reported on the enforcement action that was brought against eight former members of the boards of directors overseeing…

Co-authors: Terry D. Nelson, Michael G. Dana.

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CFTC takes enforcement action against introducing broker for lying to the regulator *

USA - February 27 2013
A recent enforcement action by the CFTC demonstrates the need for registrants to deal honestly with their regulators. On January 28, 2013, the U.S…

Co-authors: Terry D. Nelson, Michael G. Dana.

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Registered investment advisers’ annual review of compliance policies and procedures *

USA - February 27 2013
Under Rule 206(4)-7 of the Investment Advisers Act of 1940, SEC-registered investment advisers are required, at least annually, to review the…

Co-authors: Terry D. Nelson, Michael G. Dana.

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Financial adviser charged with illegally providing insider information *

USA - February 27 2013
One of the hot topic areas of concern for the SEC is the use of material non-public trading information by professionals within the financial…

Co-authors: Terry D. Nelson, Michael G. Dana.

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