January 31, 2013

SEC Names David P. Bergers as Acting Deputy Director of Enforcement

The SEC named David P. Bergers as Acting Deputy Director of the SEC’s Division of Enforcement, effective February 8 when Deputy Director George Canellos becomes the Division’s Acting Director. Mr. Bergers previously was Director of the SEC’s Boston Regional Office. He graduated from Eastern Nazarene College and received his law…

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January 31, 2013

SEC Names George S. Canellos as Acting Director of Enforcement

The SEC named George S. Canellos as Acting Director of the SEC’s Division of Enforcement, effective February 8. Mr. Canellos previously served as Deputy Director of the Division of Enforcement. He graduated from Harvard College and received his law degree from Columbia University School of Law.Click here to…

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January 28, 2013

NFA Sends Questionnaire to CPOs Relying on 4.5 Exemption

The National Futures Association (NFA) previously issued a notice to members seeking a mandatory response from any commodity pool operator (CPO) operating a pool that is a registered investment company (RIC). See NFA Notice I-13-04. Request for Information: Mandatory Response from CPOs Operating a Pool That is a Registered Investment…

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January 25, 2013

Trade Groups Submit Letter to the NFA About the Netting of Uncleared Swaps

The Investment Company Institute, Managed Funds Association and several other trade organizations submitted a letter to the Commodity Futures Trading Commission requesting relief to permit sponsors of registered investment companies and hedge funds to net certain uncleared swaps held by the funds when applying the net notional test in amended…

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January 24, 2013

Obama Nominates Mary Jo White as the next Chair of the SEC

President Obama nominated Mary Jo White, a former federal prosecutor for the Southern District of New York, as the next chair of the Securities and Exchange Commision.  Ms. White has been in private practice since 2002 as a partner at Debevoise and Plimpton LLP.  If confirmed, Ms. White will replace…

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January 22, 2013

SEC Names Vincente Martinez as Chief of Enforcement Division’s Office of Market Intelligence

The SEC has appointed Vincente Martinez as Chief of the SEC Enforcement Division’s Office of Market Intelligence. This office collects and evaluates tips, complaints and referrals that are submitted to the SEC. Mr. Martinez previously was an assistant director in the Office of Market Intelligence, after which he was director…

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January 18, 2013

SEC Issues No-Action Relief to Pacholder High Value Fund Regarding Proxy Proposal

The SEC staff issued no-action relief to the closed-end Pacholder High Value Fund, enabling the Fund to exclude a shareholder proposal from its proxy which asked for more disclosure by the Fund.  The SEC staff stated in its letter than the shareholder had failed to supply the Fund with the…

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January 15, 2013

SEC Names David Grim as Deputy Director of Division of Investment Management

The SEC appointed David Grim as Deputy Director of its Division of Investment Management. Mr. Grim’s most recent position was Assistant Chief Counsel in the Division’s Office of Chief Counsel. He graduated from Duke University and received his law degree from George Washington University. Click here to access the…

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January 15, 2013

ICI Releases Study on the Effectiveness of the SEC’s 2010 Money Market Reforms

The ICI released a study, entitled “Money Market Mutual Funds, Risk, and Financial Stability in the Wake of the 2010 Reforms.” In the Study, the ICI concludes that reforms by the SEC in 2010 to regulations governing money market funds were tested by market stresses in 2011 and continue to…

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January 14, 2013

CFTC Names Melissa Jurgens as Secretary of the Commission

The CFTC has appointed Melissa Jurgens as Secretary of the CFTC. As Secretary, Ms. Jurgens will manage the decisional workload of the CFTC as it continues to address Dodd-Frank rulemaking and implementation, in addition to ongoing enforcement and no-action matters. Ms. Jurgens previously was Deputy Clerk of the Merit Systems…

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