regulatory developments

SEC Proposes Measures to Improve Regulation of Fund Distribution Fees and Provide Better Disclosure for Investors
Washington, D.C., July 21, 2010 — The Securities and Exchange Commission today voted unanimously to propose measures aimed to improve the regulation of mutual fund distribution fees and provide better disclosure for investors.
7/22/2010

SEC Approves Disclosure Form Changes to Provide Investors Greater Information About Their Investment Advisers
Washington, D.C., July 21, 2010 — The Securities and Exchange Commission today voted unanimously to adopt changes to the principal disclosure document that SEC-registered investment advisers must provide to their clients and prospective clients.
7/22/2010

SEC Votes to Seek Public Comment on U.S. Proxy System
Washington, D.C., July 14, 2010 — The Securities and Exchange Commission today voted unanimously to issue a concept release seeking public comment on the U.S. proxy system and asking whether rule revisions should be considered to promote greater efficiency and transparency.
7/14/2010

SEC Proposes New Measures to Help Investors in Target Date Funds
Washington, D.C., June 16, 2010 — The Securities and Exchange Commission today voted unanimously to propose rule amendments to help clarify the meaning of a date in a target date fund’s name and enhance the information provided to investors in these funds as they invest for retirement.
6/17/2010

SEC Approves Rule Changes to Enhance Municipal Securities Disclosure

Washington, D.C., May 26, 2010 — The Securities and Exchange Commission today voted unanimously to approve rule changes improving the quality and timeliness of municipal securities disclosure.

5/26/2010

SEC Fee Rate Advisory #1 for Fiscal Year 2011
Washington, D.C., April 30, 2010 — The Securities and Exchange Commission today announced that in fiscal year 2011 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $116.10 per million dollars. In addition, the fees applicable to most securities transactions will be fixed at $19.20 per million dollars.
4/30/2010

SEC Posts Mutual Fund Risk/Return Summary Taxonomy Upgrade
Interactive Data and Mutual Fund Risk/Return Summaries

SEC staff has completed updates to the technology infrastructure to fully support the submission of Risk/Return Summary information in XBRL. Mutual funds are now able to create and fully test their XBRL documents in preparation for the January 1, 2011 compliance date.

4/12/2010

SEC Proposes Rules to Increase Investor Protections in Asset-Backed Securities

Washington, D.C., April 7, 2010 — The Securities and Exchange Commission today proposed rules that would revise the disclosure, reporting and offering process for asset-backed securities (ABS) to better protect investors in the securitization market.

Fee Rate Advisory #5 for Fiscal Year 2010
Washington, D.C., March 1, 2010 — Pursuant to Section 31 of the Securities Exchange Act of 1934, the Commission has determined that a mid-year adjustment to the Section 31 transaction fee rate is necessary. Effective on April 1, 2010, the Section 31 transaction fee rate will be set at $16.90 per million.
3/19/2010

SEC Announces Efforts to Educate Investors About Participating in Corporate Elections

Amends Proxy Rules to Offer “E-Proxy” Flexibility

Launches New Web Page Dedicated to Educating Investors About Proxy Matters

Washington, D.C., Feb. 22, 2010 — The Securities and Exchange Commission today announced a series of steps to educate investors about proxy voting and support greater investor participation in corporate elections.

The series of measures include amending the SEC’s e-proxy rules, issuing an Investor Alert, and creating new Internet resources that explain the proxy voting process in plain language.

“Investor participation in elections at companies they own is critical to effective corporate governance,” said SEC Chairman Mary L. Schapiro.

Read the full release here.
2/22/2010