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Mutual Fund Law Handbook

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Review from "Legal Information ALERT," pages 10-11, Vol. 18, No. 4, April 1999 FINANCIAL SERVICES Mutual Fund Law Handbook, James M. Storey and Thomas M. Clyde This handbook focuses on the popular investment vehicle known as the mutual fund, specifically, with the federal regulatory and administrative issues associated with it. It is intended as a desk reference for in-house counsel, compliance officers, and others who work within mutual fund groups, as well as lawyers and law firms with practices that necessitate an understanding of mutual fund law. The authors are Harvard-educated lawyers, each with many years of experience in the field. The Mutual Fund Law Handbook begins with a brief history of the Investment Company Act of 1940 and related legislative and regulatory events that gave birth to the mutual fund. The authors then trace the life cycle of such investment vehicles, with chapters devoted to the organization, capital structure, and administration of mutual funds. In the final chapter, they explain the different types of mutual funds (money market, closed-end, hedge) and also provide insight into the role of investment advisers and the SEC. Interspersed throughout each chapter are checklists and sample forms. In addition to the substantive text, this handbook provides a number of valuable finding aids. These include a detailed general index, a statutory index, and an abbreviations list that enables readers to identify terms used throughout the text and, generally, in the field of investment law. Storey and Clyde have produced a resource that appears to be a unique offering in the legal publishing world, as I was not able to locate a comparable work. The language and style is straightforward and easy to understand for the nonexpert.... The Mutual Fund Law Handbook is most appropriate for corporate or private law libraries with users specializing in investment law....