March 15, 2010

Amendments to Rule 206(4)-2: SEC Issues Guidance on the New Investment Adviser Custody Rule

The SEC's Division of Investment Management issued a "Q&A" about the recent amendments to Rule 206(4)-2.  That rule sets forth the requirements governing the custody of investment advisory client assets.  The Division expects to update from time to time its responses to additional questions.

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February 1, 2010

SEC and Financial Services Authority Hold Fifth Meeting of the SEC-FSA Strategic Dialogue

SEC Chairman Mary Schapiro met with senior Financial Services Authority (FSA) officials in the most recent phase of the SEC-FSA Strategic Dialogue. The purpose of the Dialogue, which was established in 2006, is to engage at the senior levels of the two agencies on current matters affecting the US and UK capital markets and areas of future collaboration.

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January 26, 2010

Chairman Schapiro Speaks at CCOutreach Conference

SEC Chairman Mary L. Schapiro spoke at CCOutreach National Seminar in Washington, D.C.

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January 13, 2010

Equity Market Concept Release Issued by the SEC

The SEC issued a report entitled Concept Release on Equity Market Structure."  The report reviews an evaluation of equity market structure performance and assesses whether market structure rules have kept pace with changes in trading practices and technology. 

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January 5, 2010

Investment Adviser CFO/CCO Hedge Fund Manager Barred from Advisory Industry

The SEC found that Mary Beth Stevens, the former chief financial officer and chief compliance officer of AA Capital Partners Inc. (AA Capital), an investment adviser, aided and abetted the misappropriation of more than $23 million by AA Capital and its former president, John Orecchio.

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January 4, 2010

Carol V. di Florio Appointed Director of OCIE

The SEC issued a report entitled Concept Release on Equity Market Structure."  The report reviews an evaluation of equity market structure performance and assesses whether market structure rules have kept pace with changes in trading practices and technology. Click http://www.sec.gov/rules/concept/2010/34-61358.pdf to access the report.

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