United States Direct Investment Act of 2006

S. 1326, Notification of Risk to Personal Data Act; S. 1332, Personal Data Privacy and Security Act; S. 1336, Consumer Identity Protection and Security Act; S. 1408, Identity Theft Protection Act; S. 1461, Consumer Identity Protection and Security Act; S. 1566 Bills: S. 3171, United States Direct Investment Act; S. 1004, Enhanced Consumer Protection Against Spyware Act; S. 115, Notification of Risk to Personal Data Act; S. 116, Privacy Act; S. 1216, Financial Privacy Breach Notification Act; Commodity Exchange Act Reauthorization; S. 1789, Personal Data Privacy and Security Act; S. 2169, Financial Data Protection Act; S. 2380, U.S. National Security Protection Act; S. 2856, Financial Services Regulatory Relief Act; S. 29, Social Security Number Misuse Prevention Act; S. 3549, Foreign Investment and National Security Act; S. 467, Terrorism Risk Insurance Extension Act; S. 751, Notification of Risk to Personal Data Act; S. 768, Comprehensive Theft Identity Prevention Act; S. 810, SAFE-ID Act; HR 1069, Notification of Risk to Personal Data Act; HR 1078, Social Security Number Protection Act; HR 1080, Information and Security Protection Act HR 1263, Consumer Privacy Protection Act; HR 1653, SAFE-ID Act; HR 2795, the Patent Act; HR 3140, Consumer Data Security and Notification Act; HR 3374, Consumer Privacy Protection Act; HR 3375, Financial Data Security Act; HR 3505, Financial Services Regulatory Relief Act; HR 3997, Financial Data Security Act; HR 4127, Data Accountability and Trust Act; HR 4127, Financial Data Accountability Act. Congressional Issues: Arbitration of employment disputes; Reduction in and Calculation of Section 31 fees; Basel II Capital Accords; SEC disclosure rules for public offerings; Protection of data and databases from misappropriation; President’s Working Group recommendations on OTC derivatives and financial reporting of risk exposure to hedge funds; Hedge fund issues generally; Expansion of SEC enforcement powers; Mutual fund issues, including late trading, market timing, disclosure of fees and revenue streams, 4:00 PM close on mutual fund redemption orders, soft dollars, and directed brokerage; Treasury Attaché to European Union; Reauthorization of Commodity Exchange Act; Trade-through rule and related market structure issues; Proposed merger of NYSE and Archipelago; Consolidation of NYSE and NASD broker-dealer regulation; Committee on Foreign Investments in the United States; Alleged manipulation of markets by uncovered short-sellers. Executive Branch Actions: SEC Rule 10b-10; Basel II Capital Accord; Investment Banking Holding Companies; SEC Framework for Consolidated Supervised Entities; Clarification of distinctions between definitions of “broker-dealer” and “investment adviser”; Hedge funds, including investment adviser and investment company compliance programs; Electronic Communication Network (ECN) access fees; Potential candidates for senior SEC staff positions; IPO allocation and pricing practices under Regulation M; Supervision of branch offices; Public Company Accounting Oversight Board regulation of audits of non-public broker-dealers and of foreign issuers; Disclosure of after-tax yield on mutual funds; Securities analyst independence and performance; Auditor participation in securities offering due diligence; Proxy solicitation; Revisions to SEC record storage rules; Fixed income price transparency; Use of electronic media to satisfy federal securities law delivery requirements (SEC interpretations); Electronic record retention issues; Independent firm compliance activities; Insurance and annuity compliance activities; SEC “principal trading” relief proposal (Rule 206(3) of the Investment Advisers Act); Best execution and payment for order flow; Privacy requirements of Gramm-Leach-Bliley Act; Proposed interpretations of Rule 15c3-1, including reducing capital charges for certain securities held in broker-dealer inventory; Reform to rules under Section 17(a) of the Investment Company Act and Section 206(3) of the Investment Advisers Act; World Trade Organization and access of U.S. broker-dealers to foreign markets; Proposed revisions to the securities offering process under the Securities Act of 1933; Interpretations of net capital rules; Regulation of derivative products; Broker-dealer retention of e-mail and interpretation of Exchange Act Rule 17a-3; Soft dollar payments among broker-dealers and other market participants; Possible consolidation or restructuring of self-regulatory organizations; Information required to be maintained by fiduciaries such as investment advisers under Rule 17a-3; Modification of restrictions on principal transactions under rule 206(3) of the Advisers Act; Exemption from bonding requirements of Section 412 of ERISA; Agency cross-trading restrictions under ERISA; Broker-dealer advertising practices; Disclosure of 401(k) fees to consumers; Proposals to SEC regarding filing requirements for certain mutual fund advertising and sales literature; Proposals to SEC regarding mutual fund fees; Proposals by the NASD and private-sector bodies to improve trade reporting and transparency in the corporate debt markets; Financial Stability forum of the G-7 nations; Prohibited transaction class exemption application regarding sections 406(a)(I)(A)-(D) and 406(b) of ERISA; Regulatory and compliance issues regarding trading restricted by the U.S. Treasury Department’s Office of Foreign Assets Control; Coordination of SEC and banking regulatory examinations; Patents of financial products;Certificate of deposit sales practices;Point of sale and confirmation disclosure on mutual fund fees;Global straight-through processing; SEC Release 34-52635 (guidance on client commission practices under Exchange Act Sec. 28(e)); Regulatory treatment of Investment Bank Holding Companies under the Gramm-Leach-Bliley Act and the requests for no-action letters under the SEC’s capital rules; Possible promulgation of rules for capital treatment and registration of Investment Bank Holding Companies; Regulation of variable annuities; Financial analysis of securities industry profitability; Best execution for options; Options market linkages; Dealer accounting issues and FASB; Proposal for reduced capital early warning requirements for broker-dealers that have strong policies and procedures for managing customer debits; Request for permitting broader range of securities to be used as collateral for Rule 15c3-3 deposits; Proposal for SEC regulation of Investment Bank Holding Companies; Implementation of Commodity Futures Modernization Act; Investment adviser referral fees; Nasdaq supermontage; Allocation of IPOs by underwriters; Reduction in and calculation of Section 31 fees; Regulatory framework for 529 plans; Broker-dealer rules under Form ADV Part 2; Government Accountability Office study of investment banks; SEC study of market structure issues; Mutual fund advertising proposed regulations; Mutual fund affiliate transactions; Mutual fund proxy disclosures; Implementation of new rules under the Sarbanes-Oxley Act; Efforts to obtain a regulation that would permit “portfolio margining” for customers of a broker-dealer; Mutual fund breakpoints; Accounting for derivatives and fair-value accounting; Possible reforms of Soft Dollars; Directed brokerage; Mutual fund issues, including late trading, market timing, disclosure of fees and revenue streams, 4:00 PM close on mutual fund redemption orders, revenue flows between mutual funds and broker-dealers, point-of-sale disclosures to mutual fund customers; Pricing of new issue securities by underwriters; Proposals to improve issuer disclosure of management discussion and analysis and critical accounting policies; SEC Short Sale Rule Proposal (Regulation SHO); Locked and crossed markets; Trading halts; Stock index pricing and markets, certification proposal for chief compliance officers and chief executive officers; SEC’s Proposed Regulation National Market System (NMS) Rule Proposal; Coordination and duplication of SEC and SRO examinations; Ability of broker-dealers to offer fee-based brokerage services outside Investment Advisers Act; Financial analysis of securities industry profitability; Proposed structural finance guidance by SEC and bank regulators; New York Stock Exchange hybrid market proposal published by SEC; SEC proposed Rule 15c-22; Business continuity planning sound practices and rules; Information security of government agencies; SEC Rule 202(a)(11)-1 (broker-dealers deemed not to be investment advisers); Mutual fund point-of-sale disclosure proposal; NASD proposed fairness opinion letter; Options market-quote migration; Application of Fair Labor Standards Act and 29 CFR Part 541 to registered representatives of broker-dealers; Gender/ethnic diversity in the securities industry; Regulation of securities analysts; Hybrid SRO/ SRO regulatory consolidation; Office of Foreign Asset Controls requirements for financial service firms; NYSE outsourcing rule proposal; NASDAQ exchange application; NYSE governance reform rule proposal; 17 CFR Part 275 (broker-dealers deemed to be investment advisers); Waiver of filing requirements for brokers and investments advisers due to Katrina; Implementation of Regulation NMS; Anti-money laundering rules under the Patriot Act; Implementation of new SEC rules on public securities offerings; SEC participation in U.S.-European Union dialogue on financial services regulatory convergence; NYSE trading rules; Proposed amendments to mutual fund redemption fee rule 22c-2; Exemptive relief from Investment Company Act Section 11(d)(1) for money market funds; Compliance with broker-dealer books and records requirements; SEC electronic proxy rule proposal; State of Utah legislation on fails-to-deliver securities on Regulation SHO threshold list; Application of SEC Rule 17a-3(A)(17) to subscription-way sales; Broker-dealer registered investment advisers; International convergence of rules regarding research regulation; International convergence of rules regarding access to cross-border markets of institutional clients and counterparties.