Supreme Court to Hear Fidelity Whistleblower Case - http://t.co/VjPp8NBpVl May 20, 2013

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Supreme Court to Hear Fidelity Whistleblower Case

May 20, 2013

The Supreme Court agreed to consider whether the Sarbanes-Oxley Act whistleblower protections apply to private advisers that provide services to mutual funds.  The case involves two former Fidelity employees who reported possible security law violations, including the alleged improper retention of $10 million in fees. … read more

Chairman Mary Jo White Testifies on the Hill

May 17, 2013

SEC Chairman Mary Jo White testified in front of the House Financial Services Committee yesterday.  In her testimony, the Chairman provided a summary of the agency’s current activities.  With respect to the Division of Investment Management, she mentioned the staff’s current work on updating valuation… read more

Moody’s Analysts Predict MMF Industry to Shrink

May 14, 2013

Moody’s analysts are predicting that the money market fund reform proposal being considered by the SEC will cause some smaller providers to go out of business, according to Bloomberg.  The proposal is reported to require institutional prime funds to float their NAV.  Moody’s has… read more

SEC Cost-Benefit Analysis Bill to be Considered by House

May 14, 2013

The House of Representatives is expected to vote soon on legislation that would impose additional requirements on the SEC’s cost-benefit analysis process.  The "SEC Regulatory Accountability Act" mandates that the SEC Office of the Chief Economist participate in any cost-benefit analysis and would require the… read more

Retail and Non-Prime MMFs May Keep Stable NAV

May 10, 2013

Details on the draft money market fund proposal being considered by the SEC are starting to emerge.  News outlets are reporting that the proposal requires prime institutional funds to float their NAV, while retail and government funds could maintain a stable NAV.  The proposal… read more