TAILIEUCHUNG - Chartered Institute for Securities & Investment in the UK joins ACIIA

For these reasons, the Commission should prohibit private funds from advertising performance information. Over time, as the Commission gains experience with private fund advertisements, it could consider the feasibility of crafting a rule similar to Rule 482 specifically for private fund advertisements. Rule 482 governs any advertisement for a mutual fund that includes performance advertising. It sets forth specific calculation methodologies for current yield, tax equivalent yield, average annual total return, and after tax return, as well as detailed requirements for the types of legends and other disclosure that must accompany any performance data. The rule. | ACIIA NEWS No 34 April 2012 Newsletter of the Association of Certified International Investment Analysts ACIIA Chartered Institute for Securities Investment in the UK joins ACIIA The Association of Certified International Investment Analysts ACIIA is pleased to announce that the Chartered Institute for Securities Investment in the United Kingdom CISI UK has become a Member of ACIIA . The CISI is the largest and most widely respected professional body for those who work in the securities and investment industry in the UK and in a growing number of major financial centres worldwide. Evolved from the London Stock Exchange it now has more than 40 000 mem bers in 89 countries. In the past year it set almost 40 000 examinations in over 79 countries covering a range of vocational qualifications. The CISI s mission is to help members attain maintain and develop their knowledge and skills and to promote the highest standards of ethics and integrity in the securities and investment industry. With representative offices in financial centres such as Dublin Singapore Dubai Mumbai and Colombo the CISI works in close cooperation with regulators firms and other professional bodies worldwide. CISI membership in ACIIA is an important step forward in the recognition of CIIA in the Anglo-Saxon world. The ACIIA fully supports the further development and promotion of the CIIA within the UK and looks forward to a long and prosperous cooperation with the CISI in the interest of investment professionals worldwide. If you would like more details about CISI please visit their website CONTENTS 1 Chartered Institute for Securities Investment in the UK joins ACIIA 2 The IEAF joins the Consultation Committee of the Spanish Capital Market Regulator SAAJ 50th Anniversary Celebration One Year since the Great East Japan Earthquake 3 Two Recent Incidents in Japan s Financial Market SAAJ International Seminar 24-25th February 2012 4 The French Society of Financial Analysts Celebrated its

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