Securities and Exchange Commission 2011 – Federal Register Recent Federal Regulation Documents

The Securities and Exchange Commission (``Commission'') requests public comment to assist it in carrying out a study on, among other matters, the feasibility of establishing a system in which a public or private utility or a self-regulatory organization (``SRO'') assigns nationally recognized statistical rating organizations (``NRSROs'') to determine credit ratings for structured finance products. This study, and a resulting report to Congress, are required by Section 939F of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the ``Dodd-Frank Act'').

The Securities and Exchange Commission (``Commission'' or ``SEC'') intends to issue an order that would adjust two dollar amount tests in the rule under the Investment Advisers Act of 1940 that permits investment advisers to charge performance based compensation to ``qualified clients.'' The adjustments would revise the dollar amount tests to account for the effects of inflation. The Commission is also proposing to amend the rule to: provide that the Commission will issue an order every five years adjusting for inflation the dollar amount tests; exclude the value of a person's primary residence from the test of whether a person has sufficient net worth to be considered a ``qualified client;'' and add certain transition provisions to the rule.