June 20, 1990
TO: INVESTMENT ADVISERS COMMITTEE NO. 20-90
RE: INVESTMENT ADVISORS DISCLOSURE AND ENFORCEMENT ACT OF 1990
__________________________________________________________
As we previously informed you, Representative Rick Boucher
introduced the "Investment Advisors Disclosure and Enforcement
Act of 1990" (H.R. 4441). This legislation has received a
considerable amount of support from a number of trade
associations such as the American Association of Retired Persons,
the International Association of Financial Planners and the North
American Securities Administrators. In addition, the bill was
sponsored by seven members of the Energy and Commerce Committee
including Chairman Dingell and Subcommittee Chairman Markey.
Attached is a draft paper on the Institute's views on the
bill. Hearings are scheduled on H.R. 4441 on July 18, 1990
before the Telecommunications and Finance Subcommittee of the
House Energy and Commerce Committee. Therefore, it is important
that I received your comments on the attached draft paper by July
3, 1990. My direct number is 202/955-3523.
Amy B. Rosenblum
Assistant General Counsel
Attachment