October 13, 1994
TO: BOARD OF GOVERNORS NO. 106-94
FEDERAL LEGISLATION COMMITTEE NO. 34-94
FEDERAL LEGISLATION MEMBERS NO. 32-94
RE: INVESTMENT ADVISERS BILL DIES IN SENATE
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Despite apparent agreement between House and Senate staff on
a final version, the Senate did not pass S. 423, the "Investment
Advisers Amendments of 1994." Among other things, the bill would
have provided the Securities and Exchange Commission with
additional resources to be used for oversight of the investment
advisory industry (See Federal Legislation Members Memorandum No.
39-93, dated December 9, 1993.)
Investment advisers legislation is expected to be
reintroduced in the next session of Congress, which is scheduled
to begin in January, but the Congress' repeated failure to pass
this legislation leaves its fate uncertain. If you wish
additional information, please call the Legislative Affairs
Department at 202/326-5890.
Julie Domenick
Senior Vice President
Legislative Affairs