Top of the Agenda - Governance

Approaching AI: How fund boards can explore new systems
By Hillary Jackson
As the mutual fund industry explores and begins to embrace the potential for artificial intelligence and starts implementing AI tools in various processes, fund independent directors are among those delving into the technology. According to professionals who work with fund boards, directors are intellectually curious about AI and excited about ...  >> CONTINUE READING <<<

 

 

Industry lawyer, SEC alum Plaze steps off WisdomTree Trust
Fund industry lawyer and former regulator Robert Plaze, who spent three decades at the Securities and Exchange Commission before entering private practice, has resigned from the WisdomTree Trust board after serving for just one year. It is unclear when, or if, his seat will be filled. Although the adviser, WisdomTree ...  >> CONTINUE READING <<<

 

 

With ETF share class go-ahead in sight, what's a board to do?
By Hillary Jackson
The Securities and Exchange Commission seems poised to grant exemptive relief to one of the earliest applicants seeking to offer an exchange-traded fund share class, just weeks after acting Chairman Mark Uyeda told a fund industry conference the issue was a priority. As mutual fund independent directors wait along with ...  >> CONTINUE READING <<<

 

 

ICI conference: Fund directors tackle 'new era' issues for boards
By Hillary Jackson
Mutual fund boards are facing both challenges and opportunities in this time of rapid product innovation and development, a changing—and somewhat uncertain—regulatory and political environment, technological advancements, and shifting areas of focus in the industry. With that as the backdrop, a group of independent directors and a lawyer who works ...  >> CONTINUE READING <<<

 

 

Putnam Funds board to give up CEFs to Franklin directors
The Putnam Funds board is proposing that oversight responsibility for the four closed-end funds under its purview be moved to the Franklin CEF board. The plan to cluster all closed-end funds under a single board—on which shareholders will vote next month—is designed to improve the consistency and efficiency of the ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Regulatory
ICI pursues reforming, modernizing '40 Act

The Investment Company Institute this week made public a set of recommendations to reform and modernize the Investment Company Act of 1940, which has not been ...