Loading ...
Sorry, an error occurred while loading the content.

SEC Staff Still Has Not Provided Adviser/Broker Recommendations

Expand Messages
  • Baker, John
    According to a password-protected article in Fund Action, the staff of the Securities and Exchange Commission still has not provided recommendations on the
    Message 1 of 1 , Jun 1, 2008
    View Source
    • 0 Attachment
      According to a password-protected article in Fund Action, the staff of the Securities and Exchange Commission still has not provided recommendations on the regulation of investment advisers and broker-dealers. As recently as April 24, SEC Division of Investment Management Director Andrew Donohue noted that, following the delivery of the RAND report on the current state of the retail investment adviser and broker-dealer industries in December 2007, Chairman Christopher Cox had directed Donohue and Division of Trading and Markets Director Erik Sirri to review the empirical data and analysis contained in the RAND report and prepare a range of options for Chairman Cox's consideration by May 5. Donohue acknowledged then that May 5 was only eleven days away. According to Fund Action, the staff has received two postponements and is still at work with no particular deadline. It is not clear whether the staff recommendations will be made publicly available.

      Donohue's April 24 speech, which seems to be the most recent statement addressing the study, is at

      http://www.sec.gov/news/speech/2008/spch042408ajd.htm

      For my post on the RAND report, see

      http://groups.yahoo.com/group/FundLaw/message/1151

      The RAND report itself is available in final form at

      http://www.sec.gov/news/press/2008/2008-1_randiabdreport.pdf


      John M. Baker <JMB@...>
      Stradley Ronon Stevens & Young, LLP http://www.stradley.com
      1220 19th Street NW, Suite 600
      Washington DC 20036
      202.419.8413
      202.822.0140 fax
      FundLaw Listowner http://groups.yahoo.com/group/fundlaw
    Your message has been successfully submitted and would be delivered to recipients shortly.