AMG Buy Side Conference in Boston, MA

Save-the-Date: September 18, 2007

The Asset Management Group of SIFMA will host a one-of-a-kind conference focused on market practices and policy matters that have a direct impact on the businesses of traditional asset management firms and hedge funds.

The Conference will focus on many AMG-sponsored initiatives including, best execution, SAS 70 and mobilizing asset managers/custodians concerning automated swaps processing. Furthermore, there will be updates on regulatory proposals such as MiFID, NYSE/NASD merger, regulation of market data and international competitiveness studies and an update on legislative issues such as bills relating to the hedge fund industry, follow-up to Pension Protection Act of 2006, retirement and savings initiatives sponsored by SIFMA.

Additional information on this Buy Side Conference is forthcoming. Be sure to save the date of Tuesday, September 18, 2007.

SEC to Hold Open Meeting on 12b-1 Fees

On Tuesday, June 19, 2007, the Securities and Exchange Commission will host a Roundtable discussion on issues surrounding Rule 12b-1 under the Investment Company Act of 1940. Recently, Rule 12b-1, which permits mutual funds to use fund assets to finance the distribution of their shares, has come under examination by the Commission. The purpose of this Roundtable is to review the uses of 12b-1 fees, their impact on retail investors and evaluate possibilities for reform. According to a press release issued by the SEC this week, the Roundtable will consist of panels addressing:

-- the historical circumstances that led to the adoption of Rule 12b-1, and the original intended purpose of the rule;

-- the evolution of the uses of Rule 12b-1 and the rule's current role in fund distribution practices;

-- the costs and benefits of the current use of Rule 12b-1; and

-- the options for reform or rescission of Rule 12b-1. The SEC is accepting written feedback on the issue of Rule 12b-1. For additional information regarding the June 19th Roundtable, click here.

Important Publications:
SIFMA Update
Washington Weekly
Legal, Regulatory and Market Practices Action Line
Weekly Report of the American Securitization Forum
SIFMA SmartBrief (past five issues)