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Justice Investigating Online Bond Trading

Concerns about price fixing expressed By John M. Baker, Esq.   According to reports in The Standard and Bond Buyer and subsequently confirmed by the Department of Justice, its antitrust division is investigating possible antitrust violations in connection with several online bond trading platforms. According to the reports, the antitrust […]

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Promissory Note Regulatory Sweep

Fraud Schemes Attacked by SEC and 28 State Regulators By John M. Baker, Esq.   The SEC and 28 state securities regulators announced on June 1, 2000 enforcement actions against hundreds of individuals and entities involved in the fraudulent sale of promissory notes to investors. The regulators noted that promissory […]

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NASD Regulatory & Compliance Release – Summer 2000

Performance Graphs, Non-Cash Compensation, Suitability in Multi-Class Funds, and Suitability for Online Firms By John M. Baker, Esq.   NASD Regulation posted the Summer 2000 issue of its Regulatory & Compliance Alert. This issue of the Alert includes a discussion of the May enforcement action against Kemper Distributors for violating […]

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NASD Margin Requirements Change Announced

Requirements change, New Disclosures Proposed By John M. Baker, Esq. The NASD posted NASD Notice to Members 00-51 (August 2000), announcing that the SEC has approved amendments to NASD Rule 2520 relating to margin requirements for exempted borrowers, good faith accounts, joint back office arrangements, control and restricted securities, and […]

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SEC Mutual Fund Switching Case Resolved

Firm pays over $470,000 to settle switching charges. By John M. Baker, Esq. SEC Settles Fund Switching Case On August 28, 2000 the SEC announced that it had settled an administrative proceeding against Dean Witter Reynolds for failure to supervise a registered representative who engaged in mutual fund switching violations. […]

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Do Mutual Fund Managers Add Value?

New Study Says Maybe Not By John M. Baker, Esq. A longstanding controversy is whether professional investment managers are able to add value. Some older studies have suggested that, at least for mutual fund investors, actively managed funds consistently underperform index funds. Now a study in the August 2000 issue […]

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SEC No-Action Letter Allowing Affiliate Merger

Mergers in the Mutual Fund Industry Addressed By John M. Baker, Esq. One of the problems arising from time to time under the Investment Company Act of 1940 is the application of the broad prohibition on affiliate transactions to mergers between a portfolio company in which a mutual fund holds […]

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Mutual Fund Symposium Addresses Current Issues

Portfolio Disclosure, Window Dressing and Portfolio Pumping Addressed By John M. Baker, Esq. Fund Democracy held its Toward Truth in Mutual Fund Investing Symposium on October 12 in Washington, D.C. The symposium covered the pending rulemaking petitions for more frequent and more thorough fund portfolio disclosure; the practices of window […]

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Survey on Regulation FD Released

Reflects Disagreement on Effects, Overall Support for Regulation By John M. Baker, Esq. The American Bar Association Task Force on Regulation FD has released the preliminary results of its survey of the securities bar. The survey shows broad disagreement on the effects of Regulation FD, although the results overall can […]

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SEC Proposes Rule Easing Fund Mergers

    ]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives SEC Proposes Rule Easing Fund Mergers Increases in mergers seen likely, with freeing of SEC Staff resources By John M. Baker, Esq. The SEC has proposed amendments to Rule 17a-8 under the Investment Company […]