1 */ For example, an individual who contributes $8,475 to a 401(k) could not make an IRA contribution, but if he contributes $7,475, he could make a $1,000 IRA contribution. This structure is also known as a "last-dollar" offset. - 1 - October 24, 1991 TO: PENSION COMMITTEE NO. 32-91...
October 24, 1991 TO: COMPLIANCE COMMITTEE NO. 9-91 RE: DRAFT AGENDA FOR NOVEMBER 7 MEETING __________________________________________________________ Attached is a draft agenda for the Compliance Committee meeting scheduled for November 7 at 10:00 a.m. The meeting will be held in the...
October 24, 1991 TO: CLOSED-END FUND COMMITTEE NO. 28-91 INVESTMENT ADVISERS COMMITTEE NO. 53-91 RE: LEGISLATION INTRODUCED TO REQUIRE REPORTING OF SHORT POSITIONS BY CERTAIN HOLDERS __________________________________________________________ The "Market Information and Shareholder...
October 24, 1991 TO: TAX COMMITTEE NO. 34-91 MONEY MARKET FUNDS AD HOC COMMITTEE NO. 25-91 Michael P. Buckley, T. Rowe Price J. Rick Cahill, Prudential Investment Corp. Marie Comber, SEI Financial Services Jim DiBiase, Scudder, Stevens and Clark Robert Glassman, Dean Witter Reynolds...
October 24, 1991 TO: BOARD OF GOVERNORS NO. 80-91 RE: ANTICIPATED HOUSE ACTION REGARDING GLASS-STEAGALL __________________________________________________________ The two House Committees with primary jurisdiction over Glass-Steagall legislation, the House Banking Committee and the...
October 24, 1991 TO: OPERATIONS COMMITTEE NO. 32-91 RE: CHECK AGING STUDY - MARCH, 1991 __________________________________________________________ Attached hereto are the results of the Operations Committee Check Aging Study of investor's checks presented to money market and other...
October 24, 1991 TO: BOARD OF GOVERNORS NO. 81-91 RE: REMARKS OF JACK BOGLE AT NASAA CONFERENCE __________________________________________________________ Attached for your information is a copy of remarks given by Vanguard Chairman John Bogle before this year's conference of the...
October 24, 1991 TO: BROKER/DEALER ADVISORY COMMITTEE NO. 35-91 RE: MUTUAL FUNDS STATUS REPORT FOR MONTH ENDING SEPTEMBER, 1991 __________________________________________________________ Attached is a copy of the Mutual Funds Status Report for the month ending September, 1991. We will...
October 24, 1991 TO: PENSION MEMBERS NO. 36-91 INSTITUTE PROTOTYPE PLAN MASS SUBMITTERS RE: IRS MODIFICATIONS TO MASTER AND PROTOTYPE PROGRAM __________________________________________________________ Attached is a copy of Revenue Procedure 91-41, which sets forth procedures for IRS...
October 24, 1991 TO: BROKER/DEALER ADVISORY COMMITTEE NO. 34-91 RE: PENDING BROKER REGISTRATION/FUND ACKNOWLEDGMENT STATUS REPORT __________________________________________________________ Enclosed is a copy of the Registration Status Report as of September 30, 1991. This report is...
October 24, 1991 TO: PENSION COMMITTEE NO. 31-91 MEMBERS - ONE PER COMPLEX NO. 55-91 RE: REQUEST FOR LETTERS IN SUPPORT OF PENSION SIMPLIFICATION LEGISLATION __________________________________________________________ The Subcommittee on Select Revenue Measures of the House Committee...
October 23, 1991 TO: TAX COMMITTEE NO. 33-91 CONNECTICUT MEMBERS RE: CONNECTICUT DEPARTMENT OF REVENUE SERVICES RULING ON SERIES FUND PORTFOLIOS AS SEPARATE ENTITIES FOR TAX PURPOSES __________________________________________________________ Attached is a ruling on the treatment of...
October 23, 1991 TO: BOARD OF GOVERNORS NO. 79-91 INTERNATIONAL COMMITTEE NO. 25-91 RE: GATT NEGOTIATIONS - EC DRAFT LIST OF THIRD COUNTRY RESTRICTIONS IDENTIFIES SECTION 7(d) OF THE INVESTMENT COMPANY ACT __________________________________________________________ Attached is a copy...
October 22, 1991 TO: PENSION COMMITTEE NO. 30-91 PROSPECTUS DELIVERY SUBCOMMITTEE RE: MEETING SCHEDULED FOR NOVEMBER 5, 1991 __________________________________________________________ A meeting has been scheduled to discuss prospectus delivery requirements and prohibited transaction...
October 22, 1991 TO: INDUSTRY STATISTICS COMMITTEE NO. 12-91 RE: NOVEMBER 7TH MEETING @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Enclosed is the agenda for our November 7th meeting. The meeting will held at the Crystal City Marriott Hotel, 1999 Jefferson Davis Highway...
October 21, 1991 TO: CLOSED-END FUND COMMITTEE NO. 27-91 SHAREHOLDER COMMUNICATIONS COMMITTEE NO. 31-91 RE: CLOSED-END FUND BROCHURE __________________________________________________________ As you are aware, several years ago the Institute prepared the attached brochure entitled, "A...
October 21, 1991 TO: COMPLIANCE COMMITTEE NO. 8-91 SUBCOMMITTEE ON ADVERTISING RE: NASD PROPOSES TO EXPAND EXEMPTIONS FROM BRANCH OFFICE REGISTRATION UNDER SECTION 27 OF THE RULES OF FAIR PRACTICE __________________________________________________________ The NASD has proposed an...
October 18, 1991 TO: STATE SECURITIES MEMBERS NO. 48-91 RE: FLORIDA SUPREME COURT HOLDS MAIL SALE FROM NEW YORK OFFICES WAS SALE OF SECURITIES IN FLORIDA __________________________________________________________ The issue of whether a securities broker in Connecticut and New York was...
October 18, 1991 TO: INDUSTRY STATISTICS COMMITTEE NO. 11-91 RE: NOVEMBER 7TH MEETING @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ The next meeting of the Committee on Industry Statistics will be held on Thursday, November 7th, from 10:00 a.m. to 4:00 p.m. in Arlington...
October 18, 1991 TO: MONEY MARKET FUNDS AD HOC COMMITTEE NO. 24-91 RE: NOVEMBER 6 MEETING TO DISCUSS INVERSE FLOATERS __________________________________________________________ A meeting of the ad hoc committee has been scheduled for November 6, 1991 to discuss the purchase of inverse...
October 18, 1991 TO: INVESTMENT ADVISER MEMBERS NO. 48-91 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 49-91 RE: TEXAS EXPANDS INSTITUTIONAL EXEMPTION FOR ADVISERS __________________________________________________________ Attached is a copy of revised section 109.3 of the rules of the...
October 18, 1991 TO: HUMAN RESOURCES AND TRAINING WORKING GROUP NO. 1-91 RE: Progress Report and Date of Next Meeting __________________________________________________________ Since our meeting on August 22, the Institute staff has been busy putting together a structure that will...
October 17, 1991 TO: MEMBERS - ONE PER COMPLEX NO. 53-91 SEC RULES MEMBERS NO. 49-91 ACCOUNTING/TREASURERS COMMITTEE NO. 21-91 UNIT INVESTMENT TRUST MEMBERS NO. 49-91 OPERATIONS MEMBERS NO. 26-91 INVESTMENT ADVISER MEMBERS NO. 47-91 CLOSED-END FUND MEMBERS NO. 44-91 INSTITUTIONAL...
October 17, 1991 TO: DIRECT MARKETING COMMITTEE NO. 36-91 RE: DISCUSSION TOPICS FOR UPCOMING MEETINGS __________________________________________________________ As we discussed at the Direct Marketing Committee's September 12 meeting, Seth Bernstein, the committee's new chairman, and...
October 17, 1991 TO: INTERNATIONAL COMMITTEE NO. 24-91 RE: NOTICE OF MEETING, THURSDAY, NOVEMBER 21, 1991 __________________________________________________________ The International Committee meeting has been scheduled for Thursday, November 21, 1991. The Committee will meet at 2:00...
