Top of the Agenda - Regulatory

Blass's time at SEC marked by 'listening, getting things done'
By Hillary Jackson
Dalia Blass this month will wrap up her more than three-year tenure as director of the Securities and Exchange Commission's Division of Investment Management, a time marked by cooperation with and responsiveness to the mutual fund industry and, specifically, fund boards. "She took the reins during relatively quiet regulatory times ...  >> CONTINUE READING <<<

 

 

SEC finalizes fair valuation rule
The Securities and Exchange Commission on Thursday adopted a new rule on fund valuation practices, the first comprehensive update in 50 years. Rule 2a-5 will permit boards to designate certain parties to perform fair value determinations, defines when market quotations are "readily available," and designates a threshold for determining whether ...  >> CONTINUE READING <<<

 

 

Morningstar Funds to SEC: Tell shareholders about boards
By Hillary Jackson
The Morningstar Funds board has called on the Securities and Exchange Commission to add information about the fund board's role to the tailored mutual and exchange-traded fund shareholder reports the agency proposed in August. The SEC has moved to streamline and simplify the reports in an effort to aid retail ...  >> CONTINUE READING <<<

 

 

SEC finalizes derivs rule, integrating industry comments
By Hillary Jackson
The Securities and Exchange Commission this week finalized its rule on funds' use of derivatives, making some notable changes to what was proposed nearly a year ago but maintaining its expectation that boards will take an active role in their oversight of such activity. Although industry lawyers and others are ...  >> CONTINUE READING <<<

 

 

SEC proposes tailored shareholder reports
By Hillary Jackson
The Securities and Exchange Commission has proposed streamlining and simplifying the reports that retail mutual and exchange-traded fund shareholders receive, an effort the regulator says will aid investors in their decision making. And while the boards that oversee these funds would not be expected to get involved in the nitty ...  >> CONTINUE READING <<<

 

 

SEC's Blass: Permanent in-person meeting relief 'makes good sense'
By Hillary Jackson
Dalia Blass, director of the Securities and Exchange Commission's Division of Investment Management, is exploring whether mutual fund boards should be permanently exempted from in-person meeting requirements. In a wide-ranging speech on July 28 to a Practising Law Institute gathering, Blass said there has been interest from the industry in ...  >> CONTINUE READING <<<

 

 


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