Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, April 12, 2007

SEC Investment Management Developments

Speech by SEC Staff: Keynote Address at the Practicing Law Institute Investment Management Institute 2007 by Andrew J. Donohue,Director, Division of Investment Management, New York, N.Y.,April 12, 2007.  The bottom line:

While the industry experienced an upheaval in 2003 as the late trading and market timing scandals came to light, the Commission also experienced the urgency of the situation as it adjusted its regulatory agenda to respond to this event. In the years since, while the industry has been determining how to best implement the variety of new regulations that were adopted, we have been responding to your questions, assisting with implementation of new regulations and assessing the effectiveness of the new regulatory landscape. Now, I would contend that, like you, we have also returned to a certain extent to a state of normalcy.

Areas he identified as current projects at the SEC:  Disclosure reform and Interactive Data; 401(k) Investors; Rule 12b-1; Books and Records; New Products.

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