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ARTICLE · 14 APRIL 2008

A Compilation Of Enforcement And Non-Enforcement Actions – March 2008

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The U.S. Securities and Exchange Commission (SEC) announced on February 13, 2008 that it will propose rule amendments that would require investment advisers to prepare brochures giving information about themselves in plain English to be provided to clients and prospective clients.

United StatesFinance and Banking
Foley & Lardner
Foley & Lardner
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Non-Enforcement Matters

SEC Proposes Plain-English Disclosure for Investment Advisers

The U.S. Securities and Exchange Commission (SEC) announced on February 13, 2008 that it will propose rule amendments that would require investment advisers to prepare brochures giving information about themselves in plain English to be provided to clients and prospective clients. The brochures would be available to the public on the SEC's Investment Adviser Public Disclosure Web site.

The brochures would provide investors with more information about advisers' business practices, including the types of advisory services they provide, fees they charge, and the risks the clients can anticipate. The brochures also would disclose advisers' disciplinary history and conflicts of interest, including the use of affiliates to execute transactions, the use of client brokerage to obtain "soft dollars benefits," and

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