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SEC Sues Fund Adviser for Fees Charged in Breach of Duty Under the Investment Company Act (SEC Press Release)

The SEC today sued AMMB Consultant Sendirian Berhad (AMC), a Malaysian investment adviser, alleging that for more than a decade, AMC charged a U.S. registered fund for advisory services that AMC did not provide. The SEC alleges that by doing so, AMC breached its fiduciary duty with respect to compensation under the Investment Company Act of 1940. View press release in full here (links externally to SEC website).

Customer Clearing Documentation, Timing of Acceptance for Clearing, and Clearing Member Risk Management; Core Principles and Other Requirements for Designated Contract Markets; Final Rule, Correction

See: 77 FR 37803 The CFTC is correcting certain text published in the Federal Register of April 9, 2012, and June 19, 2012, regarding the final rule for Customer Clearing Documentation, Timing of Acceptance for Clearing, and Clearing Member Risk Management, and Core Principles and Other Requirements for Designated Contract Markets. Effective Date(s): The corrections to FR Doc. 2012-7477 are effective October 1, 2012. The corrections to FR Doc. 2012-12746 are effective August 20, 2012. Cross References: CFTC Rule 38.601; 77 FR 21278; 77 FR 36611. For more information about this document, you