SEC Approves Issuance of Proposed Soft Dollar Interpretive Release.

Mondaq Business Briefing › Nbr. 2005, January 2005

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Extract

SEC Approves Issuance of Proposed Soft Dollar Interpretive Release.

Developments of Note

1. SEC Approves Issuance of Proposed Soft Dollar Interpretive Release

2. GAO Publishes Report on Industrial Loan Corporations

3. FFIEC Releases 2004 HMDA Data

4. GAO Publishes Report on SEC Mutual Fund Examination and Oversight Processes

5. Federal Banking Agencies Comment on Congressional Regulatory Relief Efforts

6. FRB, FDIC and OCC Announce Implementation of Online Call Report System; Also Propose Changes to Call Report

Other Item of Note

7. SEC Announces National Seminar for Mutual Fund and Investment Adviser Chief Compliance Officers on November 8, 2005

Developments of Note

SEC Approves Issuance of Proposed Soft Dollar Interpretive Release

At its open meeting on September 21, 2005, the SEC approved the issuance of a proposed interpretive release relating to the safe harbor under Section 28(e) of the Securities Exchange Act of 1934, as amended. (In general terms, Section 28(e) provides a safe harbor for an adviser that uses client commissions to pay for brokerage and research services, provided that the amount of the commissions is reasonable in relation to the value of...

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