March 9, 1989 TO: CLOSED-END FUND MEMBERS NO. 15-89 INVESTMENT ADVISERS COMMITTEE NO. 12-89 STATE LIAISON COMMITTEE NO. 1-89 UNIT INVESTMENT TRUST COMMITTEE NO. 11-89 RE: 1989 SEC/NASAA ANNUAL CONFERENCE ON UNIFORMITY OF SECURITIES LAW _________________________________________________...
March 9, 1989 TO: RESEARCH COMMITTEE NO. 5-89 RE: DATE OF SPRING COMMITTEE MEETING __________________________________________________________ Planning for the Spring meeting of the Research Committee is underway. To meet the request of many members that we try to schedule the meeting...
March 9, 1989 TO: BROKER/DEALER ADVISORY COMMITTEE NO. 12-89 RE: NOTICE OF TWO-DAY MEETING - CHANGE IN DATES NEW DATES: APRIL 27 & 28, 1989 __________________________________________________________ This is to advise you that the two-day meeting of the Broker/Dealer Advisory Committee...
- 1 - March 9, 1989 TO: PENSION MEMBERS NO. 14-89 INVESTMENT ADVISER MEMBERS NO. 21-89 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 20-89 RE: DEPARTMENT OF LABOR PROXY PROJECT REPORT __________________________________________________________ As you know, the Department of Labor in 1988...
March 8, 1989 TO: INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 19-89 INVESTMENT ADVISER MEMBERS NO. 20-89 RE: ADVISER SANCTIONED FOR FAILURE TO DISCLOSE THAT IT RECEIVED COMMISSIONS AND 12b-1 DISTRIBUTION FEES __________________________________________________________ In the attached SEC...
March 8, 1989 TO: INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 17-89 INVESTMENT ADVISER MEMBERS NO. 18-89 RE: CALIFORNIA ADOPTS PROVISION EXEMPTING CERTAIN ADVISERS FROM ITS QUALIFICATIONS REQUIREMENT __________________________________________________________ Effective February 9, 1989...
March 8, 1989 TO: BOARD OF GOVERNORS NO. 16-89 STATE SECURITIES MEMBERS NO. 9-89 RE: PROPOSED AMENDMENT OF CALIFORNIA EXPENSE LIMITATION RULE __________________________________________________________ As you know, the Institute has been working for several years to eliminate expense...
March 8, 1989 TO: INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 18-89 INVESTMENT ADVISER MEMBERS NO. 19-89 RE: TEXAS EXEMPTS ADVISERS AND CERTIFIED BY IFSCFP FROM EXAMINATION REQUIREMENTS __________________________________________________________ On February 15, 1989, the Texas State...
March 7, 1989 TO: OPERATIONS COMMITTEE NO. 5-89 RE: CHECK AGING STUDY - NOVEMBER, 1988 __________________________________________________________ This is the first Institute check aging study following the implementation of the Federal Reserve rules, effective September 1, 1988, under...
- 1 - March 6, 1989 TO: SEC RULES COMMITTEE NO. 15-89 CLOSED-END FUND COMMITTEE NO. 4-89 RE: SEC PROPOSES RULE EXPANDING TIME PERIOD FOR SELECTION OF ACCOUNTANTS UNDER SECTION 32(a)(1) __________________________________________________________ Section 32(a)(1) of the Investment...
March 6, 1989 TO: UNIT INVESTMENT TRUST COMMITTEE NO. 10-89 RE: USE OF THE MANUAL EXEMPTION TO EXEMPT RESALES IN THE STATES __________________________________________________________ In most states, unit trusts rely on an exemption from registration under the state securities acts for...
March 6, 1989 TO: INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 16-89 INVESTMENT ADVISER MEMBERS NO. 17-89 RE: CALIFORNIA ADOPTS RULE CONCERNING PROCEDURE FOR INVESTMENT ADVISERS SURRENDERING CERTIFICATES __________________________________________________________ Effective February 1, 1989...
March 6, 1989 TO: SEC RULES MEMBERS NO. 16-89 CLOSED-END FUND MEMBERS NO. 14-89 RE: SEC PROPOSES RULE EXPANDING TIME PERIOD FOR SELECTION OF ACCOUNTANTS UNDER SECTION 32(a)(1) __________________________________________________________ Section 32(a)(1) of the Investment Company Act of...
March 3, 1989 TO: UNIT INVESTMENT TRUST COMMITTEE NO. 9-89 RE: GLASS-STEAGALL LEGISLATION __________________________________________________________ You will recall that at our last meeting we discussed the desirability of having committee members review developments concerning the...
March 10, 1989 TO: BOARD OF GOVERNORS NO. 15-89 EXECUTIVE COMMITTEE NO. 3-89 MEMBERS - ONE PER COMPLEX NO. 5-89 DIRECT MARKETING COMMITTEE NO. 7-89 MARKETING COMMITTEE NO. 5-89 PUBLIC INFORMATION COMMITTEE NO. 5-89 RESEARCH COMMITTEE NO. 4-89 SALES FORCE MARKETING COMMITTEE NO. 6-89...
March 2, 1989 TO: INVESTMENT ADVISER MEMBERS NO. 16-89 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 15-89 RE: NASD SERIES 65 LAW EXAMINATION STUDY GUIDE PUBLISHED __________________________________________________________ As we have previously informed you, the National Association of...
March 2, 1989 TO: TAX COMMITTEE NO. 7-89 OPTIONS AND FUTURES TASK FORCE NO. 3-89 RE: JUNE 1 MEETING ON SECTION 851(b)(4) ISSUES __________________________________________________________ The Internal Revenue Service is presently reconsidering a variety of section 851(b)(4) issues...
- 1 - March 1, 1989 TO: BOARD OF GOVERNORS NO. 14-89 CLOSED-END FUND MEMBERS NO. 13-89 STATE SECURITIES MEMBERS NO. 7-89 UNIT INVESTMENT TRUST MEMBERS NO. 18-89 RE: INSTITUTE DEFEATS WYOMING ATTEMPT TO PLACE FEE ON EXEMPTION __________________________________________________________...
March 1, 1989 TO: SEC RULES COMMITTEE NO. 14-89 OPTIONS AND FUTURES TASK FORCE NO. 2-89 RE: COMMODITY POOL OPERATORS __________________________________________________________ Attached are copies of releases published by the SEC and CFTC concerning performance disclosure by commodity...
March 1, 1989 TO: STATE SECURITIES MEMBERS NO. 8-89 INVESTMENT ADVISER MEMBERS NO. 14-89 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 13-89 BLUE SKY GUIDE RECIPIENTS INVESTMENT ADVISERS GUIDE RECIPIENTS RE: MICHIGAN INCREASES BROKER-DEALER AND INVESTMENT ADVISER FEES _____________________...
February 27, 1989 TO: SEC RULES MEMBERS NO. 15-89 INTERNATIONAL FUNDS TASK FORCE NO. 1-89 RE: SEC NO ACTION UNDER SECTION 12(d)(1) OF THE 1940 ACT REGARDING FUND INVESTMENT IN CERTAIN SECURITIES OF FOREIGN BANKS __________________________________________________________ The SEC's...
February 24, 1989 TO: TAX MEMBERS NO. 8-89 TRANSFER AGENT SHAREHOLDER ADVISORY COMMITTEE NO. 5-89 RE: IRS ANNOUNCEMENT ON REPORTING FOREIGN PERSONS' U.S. SOURCE INCOME __________________________________________________________ The IRS has announced, in the attached release, that...
- 1 - February 23, 1989 TO: TAX MEMBERS NO. 7-89 ACCOUNTING/TREASURERS COMMITTEE NO. 11-89 RE: RECENTLY REVISED IRS FORMS AND INSTRUCTIONS __________________________________________________________ The Internal Revenue Service recently revised (1) the instructions for Form 1120-RIC...
February 22, 1989 TO: UNIT INVESTMENT TRUST COMMITTEE NO. 8-89 RE: NEW COMMITTEE ASSIGNMENTS __________________________________________________________ You may recall that we had previously discussed the advisability of having representatives of unit investment trusts on other ICI...
- 1 - February 22, 1989 TO: TAX MEMBERS NO. 6-89 MONEY MARKET FUND CHIEF EXECUTIVE OFFICERS NO. 2-89 RE: VIRGINIA PASS-THROUGH REQUIREMENTS __________________________________________________________ Last spring, the Virginia Department of Taxation announced that Virginia would permit...
