Journal of Investment Compliance: Volume 10 Issue 2

SEC permits mutual funds to use a summary prospectus and updates statutory prospectus requirements

Robert A. Robertson, Joseph P. Kelly

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…

As fraud schemes proliferate – are you the next investor to crash and burn?

Ken Evola, Nicole O'Grady

The purpose of this paper is to educate investors on the red flags of Ponzi and other fraud schemes and due diligence measures.

Tax consequences for investors in hedge fund frauds

Roger D. Lorence

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 information depository: a case study of a pre‐emptive solution to fund manager fraud

Majed R. Muhtaseb

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…

President's working group on financial markets: best practices for the hedge fund industry

Richard A. Goldman, Robert C. Leonard, Matthew Anderson Gray, Steven G. Vecchio

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'…

Facing the financial crisis: Bank of Italy's implementing regulation on hedge funds

Gabriella Opromolla

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…

Litigating disciplinary proceedings against the SEC and FINRA: it sometimes pays

Brian L. Rubin, Christian J. Cannon

The purpose of this paper is to determine with statistics whether respondents should litigate or settle enforcement actions with the SEC or FINRA.

Group of Thirty issues road‐map for financial reforms

Daniel F.C. Crowley, Bruce J. Heiman, R. Charles Miller, Philip J. Morgan, Mark D. Perlow, David K.Y. Tang, Karishma Shah Page

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…

Internal control reporting regulation: a law and economics perspective

Matthew A. Zolnor

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…

Summary of selected FINRA regulatory notices and disciplinary actions, January‐March 2009

Henry A. Davis

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…

Editor column

Henry A. Davis