Skip to main content
Chaptra
Cover of Regulation of Money Managers

Regulation of Money Managers

Written by Tamar Frankel,Arthur B. Laby,Ann Taylor Schwing

Not rated yet — tap a star to review it

4,860 pages, about 97 hours of reading

Law

Chaptra reads alongside you — AI insights, chapter breakdowns and reader discussions for every book. Join free

About this book

The Regulation of Money Managers (with the original subtitle: The Investment Company Act and The Investment Advisers Act) was published in 1978 and 1980. The Second Edition, subtitled Mutual Funds and Advisers, was published in 2001 and has been annually updated since then. It is a comprehensive and exhaustive treatise on investment management regulation. The treatise covers federal and state statutes, their legislative history, common law, judicial decisions, rules and regulations of the Securities and Exchange Commission, staff reports, and other publications dealing with investment advisers and investment companies. The treatise touches on other financial institutions such as banks, insurance companies, and pension funds. The work also discusses the economic, business, and theoretical aspects of the investment management industry and their effects on the law and on policy. The treatise contains detailed analysis of the history and development of the Investment Company Act and the Investment Advisers Act. It examines the definitions in the Acts, including the concept of ‘‘investment adviser,’’ ‘‘affiliates,’’ and ‘‘interested persons.’’ It outlines the duties of investment company directors, the independent directors, and other fiduciaries of investment companies. The treatise deals with the SEC’s enforcement powers and private parties’ rights of action.

Read it with a club

Small groups reading the same books and talking as they go.

All clubs
Floor-to-ceiling shelves packed with books

News

  • 1 member
  • 1,813 discussions
  • Active 8h ago

Read Regulation of Money Managers alongside people who are reading it too.

Open the club

Also here: News Bulletin, Just Joking....

Chaptra Prime — paid clubs, every club feature, and unlimited reading support, for $5 a month or $60 once.

See Prime

Reading guide

Themes, characters and key ideas in Regulation of Money Managers, written by Chaptra AI.

  • about 162 hours
  • advanced
  • informative
  • authoritative
  • analytical

Regulation of Money Managers is an exhaustive, multi-volume legal treatise serving as the definitive resource on investment management regulation in the United States. Authored by leading experts, it provides an unparalleled analysis of the Investment Company Act of 1940 and the Investment Advisers Act of 1940, tracing their legislative history, judicial interpretations, and regulatory evolution. The work meticulously details federal and state statutes, SEC rules, common law principles, and practical implications for investment advisers and investment companies. Annually updated, it remains an indispensable guide for legal professionals, regulators, and academics navigating the complexities of financial market oversight and investor protection.

“"The Investment Company Act and the Investment Advisers Act, born from the crucible of the Great Depression, reflect a fundamental legislative intent to protect investors and maintain market integrity through disclosure and the imposition of fiduciary duties."”

Key themes

Regulatory Framework and Scope
This theme explores how the Investment Company Act and Investment Advisers Act establish the foundational legal structures for regulating investment vehicles and professionals. It delves into the precise definitions that determine who falls under federal oversight, the criteria for registration, and the delineation of jurisdictional boundaries. The treatise meticulously examines how these definitions have been interpreted by courts and the SEC, and how they adapt to new financial products and market participants.
Fiduciary Duty and Investor Protection
At the core of investment management regulation is the principle of fiduciary duty, which obligates investment advisers and certain investment company personnel to act in the best interests of their clients and shareholders. This theme examines the origins of this duty in common law, its codification and expansion through the federal securities laws, and its practical implications for conduct, disclosure, and conflicts of interest. It underscores the legislative intent to protect investors from fraud, self-dealing, and mismanagement.
Evolution of Securities Law and Policy
This theme traces the historical development of the Investment Company Act and Investment Advisers Act, from their origins in response to the market crash of 1929 to their continuous adaptation through legislative amendments, judicial rulings, and SEC rulemaking. It highlights how economic conditions, technological advancements, and shifts in public policy have shaped the regulatory landscape, demonstrating the dynamic nature of financial law. The treatise provides context for understanding current regulations by explaining their historical roots and the problems they were designed to solve.

Worth discussing

How do the legislative histories of the Investment Company Act and Investment Advisers Act inform their modern interpretations and applications?

Chapter-by-chapter breakdowns, character arcs and the full thematic analysis come with a free account.

Sign up freeLog in

Discussions

No one has started one yet

Join

Questions this book opens up

No discussions yet

Be the first to start a discussion about this book!

Sign up to start the discussion

Reviews

No reviews yet

Be the first to review this book!