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ARTICLE · 31 MARCH 2010

U.S. Supreme Court Issues Decision in Mutual Fund Excessive Fee Case

This afternoon, the U.S. Supreme Court (the "Supreme Court") issued its opinion vacating the Seventh Circuit’s decision in "Jones v. Harris Associates L.P.", 527 F.3d 627 (7th Cir. 2008), an excessive fee suit under Section 36(b) of the Investment Company Act of 1940.

United StatesFinance and Banking

Developments of Note

  • U.S. Supreme Court Issues Decision in Mutual Fund Excessive Fee Case
  • Covered Bond Legislation Introduced in the House of Representatives
  • FDIC Revises Q&As on Brokered Deposit Restrictions and Deposit Rate Limits
  • First Circuit Dismisses SEC's Rule 10b-5 Claim Against Executives of Mutual Fund's Principal Underwriter Over Alleged Misstatements in Fund Prospectuses
  • OCC Issues Interpretive Letter Concluding that National Bank, Which Elected Tennessee Law for Corporate Governance, May Reclassify Common Stock into New Classes of Preferred Stock
  • Exemptive Applications for ETFs that Rely Significantly on Derivatives on Hold While SEC Staff Reviews Derivative Use by Registered Funds

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