The SEC today announced charges against a New York-based fund manager and his two firms for luring investors into a trading program that would purportedly maximize their profits but instead spent their money in unauthorized ways. View SEC Complaint.

The Division will not recommend enforcement action to the SEC if Royal Bank of Canada and RBC Covered Bond Guarantor Limited Partnership register the offer and sale of Covered Bonds and the related Guarantee under the Securities Act of 1933, using Form F-3, where the Bank would be eligible to use such form. SEC No-Action Letter Date of Letter: 5/18/2012

In a May 22, 2012 speech, SEC Commissioner Elisse B. Walter addressed several issues facing the SEC, including: global leadership and responsibilities, global accounting standards, and investor confidence. View speech in full here (links externally to SEC website).

The Form PF and PFRD (Private Fund Reporting Depository) Homepage is now available on the SEC website with current information about Form PF, PFRD, electronic filing and related information for SEC Registered Investment Advisers. (Note: PFRD is a subsystem of the IARD system.) PFRD FIling Fees: $150 for each Annual Report $150 for each Quarterly Report View SEC page here.

The latest Advisers Act Enforcement Action -- James E. Putman; IA-3407 (released 05/23/2012).