July 11, 1991 TO: ACCOUNTING/TREASURERS COMMITTEE NO. 17-91 MONEY MARKET FUNDS AD HOC COMMITTEE NO. 17-91 TAX COMMITTEE NO. 22-91 RE: ISSUES INVOLVED IN TAXATION OF REGULATED INVESTMENT COMPANIES INVESTING IN SYNTHETIC, SHORT-TERM MUNICIPAL OBLIGATIONS ________________________________...
July 10, 1991 TO: INSTITUTIONAL FUNDS COMMITTEE NO. 4-91 RE: FURTHER UPDATE TO SURVEY OF STATE FIDUCIARY INVESTMENT LAWS __________________________________________________________ Attached is a revised copy of our survey of state fiduciary investment laws, reflecting legislation...
July 10, 1991 TO: MARKETING COMMITTEE NO. 30-91 DIRECT MARKETING COMMITTEE NO. 24-91 SALES FORCE MARKETING COMMITTEE NO. 23-91 SHAREHOLDER COMMUNICATIONS COMMITTEE NO. 20-91 OPERATIONS COMMITTEE NO. 22-91 MEMBERS - ONE PER COMPLEX NO. 29-91 OPERATIONS MEMBERS NO. 17-91 MEMBERS...
July 9, 1991 TO: BROKER/DEALER ADVISORY COMMITTEE NO. 23-91 BROKER/DEALER ASSOCIATE MEMBERS NO. 3-91 COMPLIANCE COMMITTEE NO. 5-91 RE: NASD/NYSE JOINT MEMO ON CHINESE WALL POLICIES AND PROCEDURES __________________________________________________________ As we previously informed you...
July 9, 1991 TO: DIRECT MARKETING COMMITTEE NO. 23-91 RE: NASD PROPOSAL TO EXEMPT DIRECTLY MARKETED FUNDS FROM CUSTOMER ACCOUNT INFORMATION RULE REGARDING EMPLOYMENT DATA __________________________________________________________ The NASD is soliciting comment on a proposed...
July 8, 1991 TO: SEC RULES COMMITTEE NO. 36-91 BROKER/DEALER ADVISORY COMMITTEE NO. 22-91 RE: NASD PROPOSAL TO EXEMPT DIRECTLY MARKETED FUNDS FROM CUSTOMER ACCOUNT INFORMATION RULE REGARDING EMPLOYMENT DATA __________________________________________________________ The NASD is...
July 8, 1991 TO: PENSION MEMBERS NO. 23-91 RE: PENNSYLVANIA INCOME TAXATION OF 401(k) CONTRIBUTIONS __________________________________________________________ Enclosed is a recent case in which a Pennsylvania employer was found liable for failing to withhold Pennsylvania personal...
July 8, 1991 TO: INVESTMENT ADVISER MEMBERS NO. 28-91 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 28-91 RE: NEBRASKA REVISES REGISTRATION REQUIREMENTS __________________________________________________________ The Nebraska Bureau of Securities recently revised its procedures regarding...
July 3, 1991 TO: BOARD OF GOVERNORS NO. 51-91 EXECUTIVE COMMITTEE NO. 15-91 RE: RECENT TAX AND PENSION LEGISLATIVE DEVELOPMENTS __________________________________________________________ In addition to H.R. 2735, the mutual fund tax bill, three other bills containing tax and pension...
July 3, 1991 TO: BOARD OF GOVERNORS NO. 50-91 EXECUTIVE COMMITTEE NO. 14-91 RE: HOUSE BANKING COMMITTEE REPORTS ADMINISTRATION'S FINANCIAL SERVICES RESTRUCTURING BILL __________________________________________________________ On June 28, the House Banking Committee reported the...
July 3, 1991 TO: CONTRACTUAL PLANS COMMITTEE NO. 8-91 RE: OUTCOME OF NASAA INVESTMENT COMPANY MEETING __________________________________________________________ As you know, the NASAA Investment Company Registration/ Trading Practices Committee ("Committee") met on Saturday, June 29th...
July 2, 1991 TO: INVESTMENT ISSUES COMMITTEE NO. 5-91 RE: SEC SOLICITS COMMENTS ON CONCEPT RELEASE CONCERNING REPORTING OF MATERIAL SHORT POSITIONS __________________________________________________________ As you will recall, the issue of reporting short sales was briefly discussed...
July 2, 1991 TO: STATE LIAISON COMMITTEE NO. 16-91 UNIT INVESTMENT TRUST COMMITTEE NO. 25-91 RE: OHIO PROPOSES AMENDMENTS TO REGISTRATION RULES __________________________________________________________ For the past few years, the Institute has been working with the Ohio Securities...
July 2, 1991 TO: INSURANCE BROKER-DEALER ADVISORY COMMITTEE NO. 7-91 RE: 1. Summary of Last Meeting 2. Several Promised Items __________________________________________________________ Enclosed is Bruce Avery's summary of the meeting of June 6 and 7. Please note the attached IRA wire...
July 2, 1991 TO: BOARD OF GOVERNORS NO. 49-91 TAX MEMBERS NO. 25-91 ACCOUNTING/TREASURERS MEMBERS NO. 16-91 RE: INSTITUTE RESPONSE TO IRS PROPOSED COORDINATED ISSUE PAPER ON START-UP EXPENSES __________________________________________________________ As you may know, the IRS industry...
July 2, 1991 TO: INVESTMENT ADVISER MEMBERS NO. 27-91 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 27-91 RE: RHODE ISLAND RECOGNIZES PREDECESSOR EXAMINATIONS __________________________________________________________ As we previously informed you, investment advisers in Rhode Island must...
July 1, 1991 TO: TAX MEMBERS NO. 23-91 CLOSED-END FUND MEMBERS NO. 27-91 INTERNATIONAL COMMITTEE NO. 11-91 ACCOUNTING/TREASURERS COMMITTEE NO. 16-91 RE: TAX SIMPLIFICATION LEGISLATION INTRODUCED __________________________________________________________ The "Tax Simplification Act of...
July 1, 1991 TO: TAX MEMBERS NO. 24-91 OPERATIONS MEMBERS NO. 16-91 ACCOUNTING/TREASURERS MEMBERS NO. 15-91 RE: BILL INTRODUCED TO REPEAL 30 PERCENT TEST, PROVIDE SHAREHOLDER BASIS REPORTING AND CLARIFY TREATMENT OF REIMBURSED EXPENSES _________________________________________________...
June 28, 1991 TO: CLOSED-END FUND COMMITTEE NO. 15-91 RE: BILL INTRODUCED TO REPEAL 30 PERCENT TEST, PROVIDE SHAREHOLDER BASIS REPORTING AND CLARIFY TREATMENT OF REIMBURSED EXPENSES FOR MUTUAL FUNDS ONLY __________________________________________________________ The attached bill to...
June 28, 1991 TO: TAX MEMBERS NO. 22-91 ACCOUNTING/TREASURERS MEMBERS NO. 14-91 MONEY MARKET MEMBERS - ONE PER COMPLEX NO. 19-91 RE: LEGISLATION ON THRESHOLDS FOR PASS-THROUGH OF FEDERAL OBLIGATION INTEREST CHARACTER IN NEBRASKA AND MARYLAND ___________________________________________...
June 28, 1991 TO: INVESTMENT ADVISER MEMBERS NO. 25-91 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 25-91 RE: OKLAHOMA REVISES ADVISER REGISTRATION STATUTE __________________________________________________________ Effective September 1, 1991, the exemptions from registration under the...
June 27, 1991 TO: BOARD OF GOVERNORS NO. 48-91 RE: INSTITUTE TESTIMONY ON FUNCTIONAL REGULATION LEGISLATION __________________________________________________________ On June 20, 1991, the Institute testified before the Subcommittee on Telecommunications and Finance of the House...
June 27, 1991 TO: PENSION COMMITTEE NO. 19-91 RE: PRYOR INTRODUCES PENSION SIMPLIFICATION BILL __________________________________________________________ Senator Pryor, with Senator Bentsen, yesterday introduced S. 1364, the Employee Benefits Simplification Act. A companion bill, H.R...
