The Week in 1940 Act News:

ICI reports that money market fund assets declined by $5.92 billion to $2.5 trillion
report may be found here http://www.ici.org/research/stats/mmf/mm_04_30_15

WSJ reported that Schwab decided not to adopt liquidity fees and redemption gates for its
government money market funds
story may be found here http://www.wsj.com/articles/schwab-opts-not-to-adoptliquidity-fees-redemption-gates-for-government-funds-1430488046

SEC to hold Compliance Outreach Program regional seminars in Miami, New York,
Chicago, Denver, Philadelphia, and Los Angeles
press release may be found here http://www.sec.gov/news/pressrelease/201579.html

WSJ reported that a federal judge dismissed three class-action lawsuits alleging
exchanges gave HFTs an unfair advantage since the SEC approved of the way the
exchanges distributed data
story may be found here http://www.wsj.com/articles/lawsuit-against-exchangesover-unfair-advantage-for-high-frequency-traders-dismissed-1430326045

SEC to award over $600,000 to a whistleblower in first retaliation case

press release may be found here http://www.sec.gov/news/pressrelease/201575.html

Staff of the Division of Investment Management released its cybersecurity guidance

update
guidance update may be found here http://www.sec.gov/investment/im-guidance2015-02.pdf