Blue Sky Filings Become a Cash Cow By John M. Baker, Esq. Blue sky filings are quite the cash cow, according to a recent General Accounting Office report. Expenditures and Revenues of State Securities Regulatory Agencies, No. GAO/GGD-00-189R (Aug. 15, 2000). For example, in 1999 the 46 jurisdictions reporting usable […]
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Implied Right of Action under 36(a) of the 1940 Act?
In an amicus brief, the SEC says yes By John M. Baker, Esq. The SEC has filed a brief amicus curiae in which it took the position that an implied private right of action exists under section 36(a) of the 1940 Act for investment companies as well as individual shareholders. […]
