ARTICLE · 03 JANUARY 2006

IRS Rules That Income from Commodity Index Derivative Contracts Is Not Qualifying Income for Funds under Subchapter M

Goodwin Procter LLP

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Federal Banking Agencies Issue Proposed Guidance on Nontraditional Mortgage Products; SEC Provides No-Action Relief Regarding Application of Advisers Act to Broker-Dealers That Exercise Discretion Over Certain Family or Personal Accounts; FDIC Issues Guidance on New Requirement to File Notice of Proposed Class Action Settlements. <P>5. OCC P

United StatesFinance and Banking

Gregory Lyons

Developments of Note

1. IRS Rules That Income from Commodity Index Derivative Contracts Is Not Qualifying Income for Funds under Subchapter M

2. Federal Banking Agencies Issue Proposed Guidance on Nontraditional Mortgage Products

3. SEC Provides No-Action Relief Regarding Application of Advisers Act to Broker-Dealers That Exercise Discretion Over Certain Family or Personal Accounts

4. FDIC Issues Guidance on New Requirement to File Notice of Proposed Class Action Settlements

5. OCC Publishes Interpretive Letters Concerning Use of Bank Premises

Developments of Note

IRS Rules That Income from Commodity Index Derivative Contracts Is Not Qualifying Income for Funds under Subchapter M

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