Alert December 15, 2009

SEC to Consider Adopting Compensation/Corporate Governance Disclosure and Adviser Custody Proposals at Open Meeting

At its open meeting on Wednesday, December 16, 2009, which will be webcast, the SEC will consider whether to adopt (1) amendments to rules and forms under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940 to require additional disclosures from registrants about “compensation and other corporate governance matters” (for more on this proposal, see the July 14, 2009 Alert)  and (2) amendments to the investment adviser custody rule (Rule 206(4)-2 under the Investment Advisers Act of 1940) and related forms and rules (for more on this proposal, see the May 26, 2009 Alert).