In This Issue:
*SEC/CORPORATE
..SEC Chairman Issues Statement on GAAP-IFRS Convergence Project
*BROKER DEALER
..SEC Approves Amendments to Trade Reporting Requirements for Restricted Equity Securities and Revisions to OTC Equity Security Definition
*PRIVATE INVESTMENT FUNDS
..Carried Interest Legislation Passes House
*LITIGATION
..District Court Denies Motion to Dismiss in Options Backdating Action
..Claims Concerning Food Packaging Allowed to Proceed
*BANKING
..Unlawful Internet Gambling Enforcement Act of 2006 Examination Procedures
*UK DEVELOPMENTS
..FSA Fines and Bans Commodity Broker
..FSA Insider Dealing Prosecution Fails
*EU DEVELOPMENTS
..CESR Publishes European Short Selling Technical Details
Please see full publication below for more information.