In the Margins

SEC revisits auditor independence rule

May 9, 2018

By The Wall Street Journal

The Securities and Exchange Commission has proposed a fix for an issue that could have forced some funds to change their auditors for conflict-of-interest reasons, which had the potential to be laborious and expensive. The issue first came to the fore in 2016 when Fidelity Management & Research Co. requested and was granted an exemption from the rule. Now, the SEC has proposed a series of changes to its auditor-independence rules to address the issue permanently. “It’s a huge step forward,” said Susan Wyderko, president and CEO of Mutual Fund Directors Forum. “It’s a common-sense interpretation.” Read the original story from The Wall Street Journal.

 

 

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