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.

 

 

Most Read

A Seat at the Table
Invesco Funds board finalizes succession plans

The Invesco Funds board will name Christopher Wilson vice chairman at its June meeting, making him the heir apparent to long-serving independent Chair Bruce Crockett. Crockett ...

Top of the Agenda - Compensation
Fund board comp moves up, as industry keeps changing

Analyzing mutual fund director compensation data is getting increasingly difficult as consolidation reshapes the mid-sized to large end of the market and a reduction in stand-alone ...

Top of the Agenda - Industry Groups
IDC's Amy Lancellotta to retire at year-end

Amy Lancellotta will retire from the Independent Directors Council at the end of this year after 13 years as managing director and a total of 30 ...