Journal of Investment Compliance articles from June 2009

Journal of Investment Compliance archives from June 2009

Editor column.(Editorial)(Column)
June 22, 2009... We start this issue with an article by Robert Robertson and Joseph Kelly on the final SEC rule amendments concerning the summary prospectus for mutual funds, which is intended to improve mutual fund disclosure by providing investors with key...

SEC permits mutual funds to use a summary prospectus and updates statutory prospectus requirements.(Securities and Exchange Commission)(Report)
June 22, 2009... Abstract Purpose--The purpose of this paper is to examine SEC rule amendments that permit a mutual fund to use a three- or four-page "summary prospectus" to satisfy statutory prospectus delivery obligations and amendments to a fund's...

As fraud schemes proliferate--are you the next investor to crash and burn?
June 22, 2009... Abstract Purpose--The purpose of this paper is to educate investors on the red flags of Ponzi and other fraud schemes and due diligence measures. Design/methodology/approach--The paper examines ways in which fraud is executed in Ponzi...

Tax consequences for investors in hedge fund frauds.
June 22, 2009... Abstract Purpose--The purpose of this paper is to consider the appropriate Internal Revenue Service (IRS) tax filings for individual and fund-of-fund (FOF) investors who have incurred losses from hedge fund fraud. ...

Hedge fund information depository: a case study of a pre-emptive solution to fund manager fraud.(Report)
June 22, 2009... Abstract Purpose--The objective of this research is to educate investors and hedge fund industry stakeholders about a hedge fund manager's alarming activities prior to recognition of the fraud by the authorities. The lessons serve as red...

President's working group on financial markets: best practices for the hedge fund industry.(Report)
June 22, 2009... Abstract Purpose--The purpose of this paper is to summarize two separate reports on best hedge fund industry practices issued on January 15, 2009 by the Asset Managers' Committee and the Investors' Committee of the President's Working Group...

Facing the financial crisis: Bank of Italy's implementing regulation on hedge funds.
June 22, 2009... Abstract Purpose--This paper sets out to describe the Bank of Italy's implementation regulation on hedge funds pursuant to Law Decree No. 185 of November 9, 2008, the so-called Anti-Crisis Decree aimed at stabilizing the Italian economy...

Litigating disciplinary proceedings against the SEC and FINRA: it sometimes pays.(Financial Industry Regulatory Authority)(Securities and Exchange Commission)
June 22, 2009... Abstract Purpose--The purpose of this paper is to determine with statistics whether respondents should litigate or settle enforcement actions with the SEC or FINRA. Design/methodology/approach--All SEC administrative and FINRA litigated...

Group of Thirty issues road-map for financial reforms.
June 22, 2009... Abstract Purpose--The purpose of this paper is to summarize the Group of Thirty's recommendations and explain how they relate to other concurrent financial market regulatory initiatives in the USA, UK, and Europe. ...

Internal control reporting regulation: a law and economics perspective.
June 22, 2009... Abstract Purpose--The purpose of this paper is to analyze the efficiency of the internal control reporting (ICR) requirements imposed by Sections 302 and 404 of the Sarbanes-Oxley Act of 2002 (SOX). The lessons learned are then applied to the...

Summary of selected FINRA regulatory notices and disciplinary actions, January-March 2009.(Financial Industry Regulatory Authority)
June 22, 2009... Abstract Purpose--The purpose of this paper is to provide excerpts of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued from January to March 2009 and a sample of disciplinary actions...