From the Editor...

As we get closer to the end of the year (and now that the weather's turned, it doesn't seem so far off), we see more and more changes in leadership inside the boardroom and elsewhere within the industry. We recently brought subscribers news that Joel Motley will take the helm at OppenheimerFunds' New York board and Dawn Vroegop will take on the chair position of the Independent Directors Council's Governing Council. At the start of 2019, Motley will replace Brian Wruble, who will remain on the OppenheimerFunds board through April 2020. Meanwhile, Vroegop, independent chair of Brighthouse Funds, has replaced Jon Zeschin at IDC. Both new leaders are industry veterans.

We also continue to follow the courts and what's going on with the various 36(b) cases that remain in play. In the past couple weeks, a New Jersey court granted summary judgment toNew York Life Investment Management, putting an end to an excessive fees case filed against it in 2014. In New York, a court granted partial summary judgment to Calamos Advisors in its own excessive fees case and, interestingly, failed to dispose of complaints targeting the fund board process. That's one we'll continue to watch, for sure. 

In research, Management Practice Inc., which publishes a director compensation survey each year, has put out some supplementary figures on boards overseeing alternative investment products such as exchange-traded funds, closed-end funds, interval funds, and business development companies. It's interesting reading. And Deloitte has published its latest Fair Valuation Pricing Survey and found, among other things, that advisors and the boards overseeing their funds are using more technology and innovation in the valuation process. 

Missed something? Don't fret. You can click on the headlines below at any time, and you can access all the month's news in our FBV Monthly publication. September stories are available here and October stories will be available shortly after the month ends (watch for an email with a link to the PDF). Please let us know what you think of this added feature, which gives subscribers access to all the month's stories in one convenient location. We love feedback!

For now, 

Hillary Jackson, founding editor