10 Things

10 Things...to help strengthen board-CCO relationship
By FBV staff
One of the most important relationships in the boardroom is the one between independent directors and the funds' chief compliance officer. It involves the sharing of critical information and, ideally, it is one of mutual support. But it takes work—and time—to ensure the board-CCO relationship is effective and productive. We ...  >> CONTINUE READING <<<

 

 

10 Things...Boards should ask about SEC conflict rules
By FBV staff
The Securities and Exchange Commission this week proposed a package of rulemakings and interpretations designed to address broker-dealers' and investment advisers' conflicts of interest with regard to dispensing investment advice. Regulation Best Interest would cover all types of investor accounts rather than just the retirement savings accounts covered by the ...  >> CONTINUE READING <<<

 

 

10 Things...to discuss about liquidity risk management
By FBV staff
The Securities and Exchange Commission last month extended by six months the deadlines for mutual fund boards to approve the liquidity risk management programs that advisers are required to implement under Rule 22e-4. The programs themselves—minus the bucketing requirements, which also have been put off—must be implemented by the original ...  >> CONTINUE READING <<<

 

 

10 Things...SEC should consider in fund board review
By FBV staff
Dalia Blass, director of the Securities and Exchange Commission's Division of Investment Management, announced in December that she and her staff are embarking on a holistic review of mutual fund boards' duties, something fund governance professionals have been demanding for years. The industry maintains that as duties have been added piecemeal ...  >> CONTINUE READING <<<

 

 

10 Things...that grabbed directors' attention in 2017
By FBV staff
With just a few weeks left in the year, it seems an appropriate time to look back at 2017 and what mutual fund directors and fund governance professionals were talking about and most closely following throughout the year. No new regulations came out of the Securities and Exchange Commission—which spent ...  >> CONTINUE READING <<<

 

 

10 Things...To know about attorney-client privilege
By FBV staff
Independent mutual fund directors and their counsel have long depended on the protections of attorney-client privilege—that is, until last year when the plaintiffs' bar challenged the practice by questioning the structure of a mutual fund trust and the role of the directors. In one excessive fees case, Kenny v. PIMCO, ...  >> CONTINUE READING <<<

 

 


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