Analyst Disclosure Issue Would Snag Brokers New NASD Proposal will require more disclosures by retail brokers. The war on analysts is now threatening brokers. In proposing heightened disclosures from analysts, the NASDR has included retail brokers as well. The July proposal, NASD Notice to Members 01-45, broadens disclosure obligations for […]
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Web Aggregators Under Scrunity
Registration and Regulation Considered By John M. Baker, Esq. Web aggregation is among the most recent financial services developments. Web aggregators collect an individual’s financial account information from a variety of web sites and enable the individual to view and manage it all at a single site. Current estimates are […]
NASAA Proposed Web Based Investment Advisor Registration Depository
]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives Comment Period Expires August 21, 2000 By John M. Baker, Esq. The North American Securities Administrators Association (NASAA) has released for public comment proposed amendments to the Uniform Securities Act and the NASAA Model Rules […]
SEC Approves All-Electronic Offering
Web based offering approved by Commission for First Time By John M. Baker, Esq. The Securities and Exchange Commission has for the first time approved an offering that is to be made only by means of the World Wide Web. In a rare action, the registration statement for The […]
SEC Cautionary Advice on Accounting Policies
SEC Cautionary Advice on Accounting Policies New rules considered for more precise accounting policy disclosures. By John M. Baker, Esq. Dec. 12, 2001 – The Securities and Exchange Commission today issued cautionary advice on the selection and disclosure by public companies of critical accounting policies and practices. Release Nos. 33-8040, […]
Penta Fund to Deny Redemption Requests
Losses cause liquidity concerns By John M. Baker, Esq. Penta Japan Fund Ltd. told investors that it temporarily won’t be able to honor some $120 million in outstanding redemption requests. According to a detailed article on HedgeWorld.com, the fund has lost 47.4% of its value this year after gaining 153.8% […]
Independent Director Rules for Mutual Funds
After much discussion and controversy, a decision. By John M. Baker, Esq. The Securities and Exchange Commission today announced that it has adopted its much-awaited rules on the role of independent directors of investment companies. Release Nos. 33-7932, 34-43786, IC-24816 (Jan. 2, 2001). As proposed, the salient provision of the […]
New Consumer Protection Regulations Adopted
Sales Practices, solicitations, advertising regulations adopted By John M. Baker, Esq. The Office of the Comptroller of the Currency has posted the final version of consumer-protection regulations adopted by the OCC, FDIC, OTS, and Federal Reserve under the Gramm-Leach-Bliley Act. The regulations apply to retail sales practices, solicitations, advertising, and […]
SEC’s Dear CFO Letter Posted
Investment Management Division’s Views on Accounting Related Issues By John M. Baker, Esq. The accounting staff of the SEC’s Division of Investment Management on Friday posted its annual “Dear CFO” industry comment letter (Feb. 14, 2001). The comment letter addresses several accounting-related matters in filings made by registered investment companies […]
SEC Proposed New Rules for Independent Auditors
New Definitions and Rules to Measure Independence, New Restrictions By John M. Baker, Esq. On June 30, 2000 the SEC posted proposed rules that would substantially revise the independence standards for auditors. Release Nos. 33-7870, 34- 42994, 35-27193, IC-24549 (June 30, 2000). The proposal would modernize the rules for auditor […]
