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ARTICLE · 06 AUGUST 2008

SEC Votes to Propose Guidance For Fund Boards In Overseeing Best Execution And Adviser Soft Dollar Usage

Goodwin Procter LLP
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At its open meeting last week, the SEC voted to propose guidance for registered fund directors regarding their oversight of fund portfolio transaction activity, including soft dollar use by fund advisers.

United StatesFinance and Banking

Originally published August 5, 2008

Financial Services Alert – Developments of Note

Developments of Note

  1. SEC Votes to Propose Guidance for Fund Boards in Overseeing Best Execution and Adviser Soft Dollar Usage

  2. IRS Issues Guidance Regarding the Deductibility of Management Fees of a Fund of Funds

  3. FINRA Proposes To Update and Consolidate Rules Governing Marketing of Variable Annuities and Variable Life Insurance

  4. SEC and DOL Enter Into Information-Sharing Memorandum of Understanding to Formalize Regulatory Cooperation

  5. SEC Staff Grants No-Action Relief to Permit Fund to Rely on Rule 15a-4 under the 1940 Act to Enter into Interim Sub-Advisory Contract Following Sub-Adviser Resignation

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