Purpose – The purpose of this paper is to explain the SEC's new dollar threshold tests under the qualified client standard. Design/methodology/approach – The paper explains the amendments to the dollar thresholds, which provide for inflation adjustments to the assets under management and net...

Purpose – The purpose of this paper is to help parties to “TBA contracts” better understand how their claims would be treated in the event that a Securities Investor Protection Act of 1970 (SIPA) proceeding was commenced with respect to their counterparty. Design/methodology/approach –...

Purpose – The purpose of this paper is to provide an introduction to the distribution of mutual funds around the world, including a background on the lack of sales of US funds offshore and initial practical legal and compliance considerations regarding fund structure, multi‐jurisdictional...

Purpose – The aim is to explain the meaning of a May 2012 High Court decision and Financial Services Authority fine and their importance for money laundering reporting officers (MLROs) and those who oversee anti‐money laundering (AML) controls. Design/methodology/approach – The paper...

Purpose – The paper aims to explain the new Financial Industry Regulatory Authority (FINRA) rules governing communications with the public approved by the Securities and Exchange Commission (SEC) on March 29, 2012. Design/methodology/approach – The following are explained: categories of...

Purpose – The aim is to explain certain disclosure and other obligations of municipal securities dealers when they act as underwriters to municipal securities issuers, as contained in a Municipal Securities Rulemaking Board interpretive notice regarding MSRB Rule G‐17, approved by the...

Purpose – The paper aims to explain regulatory issues and considerations as to future regulatory changes that Chinese regulators may implement with regard to the Qualified Foreign Institutional Investor (QFII) regime. Design/methodology/approach – The paper describes: the regulators...

Purpose – The aim is to provide details of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in March, April and May 2012. Design/methodology/approach – The paper provides Regulatory Notice 12‐17, April 2012, “Telemarketing: SEC...

Purpose – The purpose of this paper is to explain the US Department of Labor's final regulations under Section 408(b)(2) of ERISA, concerning the fact that information investment advisers to ERISA‐covered pension plans and private investment funds deemed to hold the “plan assets” of...