.  In addition, inception of mutual funds for non-retail (MF for non-retail) will no longer be permitted to avoid repetition of mutual funds for accredited investors, selling units to institutional and

companies.** By ensuring more appropriateness, less reporting repetition, and more flexibility for those responsible for the reporting, the amendment still ensures that the users receive sufficient

acts as the oversight body, is overseen by an independent body. Such an auditor oversight body must operate in the public interest, and have an appropriate membership, an adequate charter of

overseen by experts, all aimed at creating an illusion of trustworthiness. In addition, the SEC continues to prevent investment scams in various manners, as follows:           (1) Posting on the

DODD-FRANK ACT • Financial crisis revealed behemoth players in financial industry were not overseen by any regulatory authority • Dodd-Frank mandated additional SEC oversight on PE and HF firms JUNE 22

administrative sanction shall depend upon an uncertain future event; (3) the prescription to act or omit to act by the person subject to the sanction to rectify or prevent repetition of violation or non-compliance

or insurance business. This collects assets and manages them on behalf of beneficiaries or clients; its obligation is to preserve and enhance value on their behalf. It is usually overseen by some form

market or capital market as a whole, or [ii] amendment, remedy or prevention against repetition of such similar facts or demeanors; (5) other demeanors of the person under deliberation which benefit or

) rectification, or other acts which are useful for amendment, remedy or prevention against repetition of such similar facts or demeanors; (5) other demeanors of the person under deliberation which is benefit or

insurance are combined, at least under a common holding company. There is little guidance on how such financial conglomerates should be overseen or regulated beyond general requirements to separate certain