Top of the Agenda - Legal

MD court rejects Sequoia Fund derivative claims
By Hillary Jackson
A Maryland court this week dismissed derivative claims against the directors of Sequoia Fund and its investment adviser related to the fund's 2015 investment in Valeant Pharmaceuticals. The ruling, from Baltimore City Circuit Court Judge W. Michel Pierson, is the latest victory for Sequoia Fund's directors and adviser after years ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Plaintiff appeals MetWest 36(b) verdict
By Hillary Jackson
The plaintiff in an excessive fees case against Metropolitan West Asset Management already has appealed a California judge's ruling in favor of the defendant, handed down just days ago. U.S. District Court Judge George Wu, of the Central District of California, on Monday found in favor of MetWest, which had ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

MetWest 36(b) triumph affirms industry optimism
By Hillary Jackson
Metropolitan West Asset Management was handed a victory in court this week, one that mutual fund industry litigators say could finally put an end to lawsuits that "blindly compare advisory fees to sub-advisory fees." U.S. District Court Judge George Wu, of the Central District of California, on Monday dismissed Kennis ...  >> CONTINUE READING <<<

 

 

Viewpoints

Fund Directors: Here’s what you should know about AI
By Jilaine Bauer
In 2016, the White House published its report on the future of artificial intelligence with 23 specific recommendations for further action by federal agencies and others to help ensure AI applications are used for public good. Since then, the financial services industry and its regulators have moved quickly to broaden deployment of ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Succession

California's Wilshire Funds adds independent
By Hillary Jackson
A new independent director has joined the board of Wilshire Funds, temporarily increasing the number around the table to five—plus one interested director—ahead of a possible retirement in 2020. Independent Chairman George Zock said the board started succession planning early in order to be "very deliberate and picky about who ...  >> CONTINUE READING <<<

 

 


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Most Read

Top of the Agenda - Succession
Donohue joins two BNY Mellon Funds board groups

Andrew "Buddy" Donohue has joined two of the five BNY Mellon (formerly Dreyfus) mutual fund board groups led by long-serving independent Chairman Joseph DiMartino. Donohue resigned ...
Top of the Agenda - Compensation
Fund CCOs continue to see pay increases

Mutual fund chief compliance officers saw notable increases in pay again in 2018, though they did not receive as big a pay bump as they did ...
10 Things
10 Things...to read in summer 2019

Hello, Summer 2019! Today's solstice marks the beginning of the season, and that—hopefully—means a slower pace for a few months. Trips to the beach, time on ...