? The Securities and Exchange Commission (SEC) has announced that Chief Economist James A. Overdahl will leave the agency to rejoin the private sector after serving since July 2007 as principal economic advisor to the Commission on policy, rulemaking, and litigation support. As Director of the Commission’s Office of Economic Analysis, Overdahl supervised the agency’s economics program, advising policymakers on a wide variety of topics affecting securities markets including the role of securities lending and short selling, market structure issues, money market mutual funds, credit rating agencies, and litigation matters. The Office of Economic Analysis is part of the SEC’s new Division of Risk, Strategy, and Financial Innovation.
? The Insured Retirement Institute (IRI) has released a survey which found that 90% of consumers would read their prospectus if it was provided as a short summary rather than in full detail. The survey also found that only half of consumers currently read the prospectuses provided with their investments and only 20% say they always read them.
? The Million Dollar Roundtable (MDRT) Foundation is coordinating its largest-ever volunteer event to package 1 million meals for children and families in impoverished communities around the world. The Million Meal Challenge will take place at this year’s MDRT Annual Meeting in Vancouver, June 13-17, 2010, at the Vancouver Convention Center, in partnership with Kids Against Hunger (KAH) and Kids Around the World.