Alert July 18, 2006

Financial Services Alert - July 18, 2006

  • SEC Approves Soft Dollar Interpretive Release
  • Federal Banking Regulators State that Proposed Legislation Should Not Deter Qualified Individuals from Serving as Bank Directors and Officers
  • IRS Issues Notice on New Legislation Imposing Excise Taxes on Tax-Exempt Organizations Participating in Prohibited Tax Shelters and Similar Transactions
  • SEC Approves NASD “Text Box” Disclosure Requirements for Mutual Fund Performance Ads
  • SEC Reverses In Part Administrative Law Judge’s Dismissal of Charges in Class B Shares Proceeding
  • SEC Staff Grants Extension of No-Action Relief That Permits Broker-Dealers to Rely on Registered Advisers to Perform AML Customer Identification Programs