Investment Management Developments - December 2008

Our Investment Management Developments publication discusses the following topics:

Mutual Fund News

• SEC Adopts Summary Prospectus and Form N-1A Changes
• Electronic Exemptive Applications Now Filed on EDGAR
• SEC and New York Fed Issue Guidance Concerning Money Market Investor Funding Facility
• SEC Adopts Temporary Exemption for Participants in Treasury Department’s Temporary Guarantee Program for Money Market Funds
• SEC Publishes Interpretive Guidance Regarding Company Website Disclosure
• SEC Adopts and Proposes New Rule Amendments Concerning Credit Rating Agencies

Hedge Fund News

• Reminder: Mandatory Electronic Filing of Form D Begins March 16, 2009

Investment Adviser News

• SEC’s Office of Compliance Inspections and Examinations Publishes National Core Initial Request for Information
• Recent Developments in State Regulations Affecting Protection of Personal Information
• SEC Adopts Short Selling Rules
• SEC Staff Grants Relief for Adviser’s Past Specific Recommendations Presentations

ETF News

• Amendments to Form N-1A Applicable to ETFs
• SEC Staff Approves ETF of ETFs