Purpose – The purpose of this paper is to analyze new SEC Rule 206(4)‐8 under the Investment Advisers Act of 1940 and discuss its practical implications. Design/methodology/approach – The paper describes the new rule, the types of advisers and funds to which the rule applies, examples of...

Purpose – To introduce and summarize the key features of market‐misconduct‐related offenses in the UK with a particular focus on insider dealing. Design/methodology/approach – Provides a detailed overview of: the market abuse regime of the UK's financial regulator, the Financial Services...

Purpose – The purpose of this paper is to describe the exposure and the responsibilities of a broker‐dealer's senior management under NASD's and the NYSE's new rules, emphasizing a regular review of supervisory and compliance systems. Design/methodology/approach – Describes new rules,...

Purpose – The purpose of this paper is to summarize recent draft amendments to the German Investment Act as reflected in the second Draft dated 2 April 2007. Design/methodology/approach – The paper summarizes proposed changes in regulations for investment companies and product‐related...

Purpose – The purpose of this paper is to explain restrictions on nonqualified deferred compensation arrangements contained in Section 409A of the Internal Revenue Code. Design/methodology/approach – The study explains the background to Section 409A, how Section 409A applies to hedge funds,...

Purpose – The aim of this paper is to explain the details of a trial program in China to introduce margin trading and securities lending. Design/methodology/approach – The paper describes eligibility requirements for securities companies and their clients; accounts for margin trading and...