Goodwin Procter has one of the largest financial services practices in the United States. We publish the weekly Financial Services Alert to inform our clients and other financial services institutions about news of importance to the industry. Some issues of the Alert summarize significant recent developments in financial services law and regulation. Other issues provide more in-depth analysis about specific areas of financial services law. We hope you find the Financial Services Alert helpful, and we welcome your suggestions for future topics of interest.

Financial Services Alert - August 19, 2008 (PDF)
08.19.08

• Seventh Circuit Denies Petition for Rehearing and Rehearing En Banc of Decision Rejecting Gartenberg Analysis in Excessive Fee Suit Against Mutual Fund Adviser
• SEC Issues Interpretive Release Regarding Use of Company Websites under Federal Securities Laws
• FRB Proposes Changes to Regulation S
• SEC Staff Posts On-Line Mutual Fund AML Reference and Launches SAR Phone Line
• IOSCO Issues Final Report on Funds of Hedge Funds

Financial Services Alert - August 12, 2008 (PDF)
08.12.08
Quarterly Review

Financial Services Alert - August 5, 2008 (PDF)
08.05.08

• SEC Votes to Propose Guidance for Fund Boards in Overseeing Best Execution and Adviser Soft Dollar Usage
• IRS Issues Guidance Regarding the Deductibility of Management Fees of a Fund of Funds
• FINRA Proposes To Update and Consolidate Rules Governing Marketing of Variable Annuities and Variable Life Insurance
• SEC and DOL Enter Into Information-Sharing Memorandum of Understanding to Formalize Regulatory Cooperation
• SEC Staff Grants No-Action Relief to Permit Fund to Rely on Rule 15a-4 under the 1940 Act to Enter into Interim Sub-Advisory Contract Following Sub-Adviser Resignation
• FASB Delays Effective Date for Revised FAS 140 Concerning Securitizations
• OTS Amends Mutual Holding Company Regulations Applicable to Minority Stock Ownership Limitations of MHC Subsidiaries
• American Bankers Association Seeks to Protect Bank Interest Expense Deduction
• Goodwin Procter Sponsors Seminar on Private Equity Investing in Banks
• SEC Staff Issues Second ComplianceAlert Summarizing Examination Findings
• Independent Directors Council Issues Report on Oversight of Derivative Investments by Registered Fund Boards
• SEC Reopens Comment Period on Mutual Fund Summary Prospectus Proposal