Top of the Agenda - Regulatory

In-person voting relief extended through year-end
Mutual fund boards can continue to conduct business—including voting on contract approvals and renewals and other important matters—virtually through the end of 2020, according to the Securities and Exchange Commission, which said Friday it was extending conditional relief from in-person voting requirements to provide flexibility to boards that may continue ...  >> CONTINUE READING <<<

 

 

Fair valuation draft draws praise, scrutiny (and some criticism)
By Hillary Jackson
Response among mutual fund governance professionals to a proposed rule on fund valuation practices has been generally positive, but industry lawyers anticipate pushback on a number of aspects of the draft during the three-month comment period. While labeled "a good step forward" by several individuals, the proposed rule is a ...  >> CONTINUE READING <<<

 

 

SEC proposes fund valuation rule
By Hillary Jackson
The Securities and Exchange Commission on Tuesday evening voted to propose a new rule on fund valuation practices. The move, which marks the first time the SEC has addressed the issue in 50 years, "is designed to clarify how fund boards can satisfy their valuation obligations in light of market ...  >> CONTINUE READING <<<

 

 

SEC issues interfund lending relief

By Hillary Jackson
The Securities and Exchange Commission has taken numerous steps this month to assist registered funds in dealing with the impact of the COVID-19 pandemic, including issuing an order last week that allows for lending among funds. Such interfund lending, which requires fund board approval, was described by SEC Chairman Jay ...  >> CONTINUE READING <<<

 

 

SEC extends no-action relief to money market funds
By Hillary Jackson
As money market funds grapple with the most significant securities markets disruptions since the 2008 financial crisis, the Securities and Exchange Commission has acted to make it easier for all types of fund sponsors to ensure liquidity and stability in their products. In a no-action letter issued to the Investment ...  >> CONTINUE READING <<<

 

 

Funds update risk disclosure with coronavirus language
By Hillary Jackson
The novel coronavirus outbreak has spurred some mutual funds to update their risk disclosure by filing sticker supplements that expressly list COVID-19 as a potential risk to shareholders. The filings are coming from both exchange-traded and open-end mutual funds and are similar to those filed around other recent potentially disruptive ...  >> CONTINUE READING <<<

 

 


Most Read

Top of the Agenda - Regulatory
In-person voting relief extended through year-end

Mutual fund boards can continue conducting business—including voting on contract approvals and renewals and other important matters—virtually through the end of 2020, according to the Securities ...
Top of the Agenda - Governance
Recruiting in the time of coronavirus

Mutual fund boards seem well on their way to mastering the art of conducting business virtually, but one area that may still be a challenge during ...