Top of the Agenda - Governance

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 <<<

DEI discussions on board agendas following Trump executive orders

By Hillary Jackson

As mutual fund boards prepare for their next quarterly meetings over the coming weeks, they likely are gathering talking points on several of President Trump's initiatives and of the dozens of executive orders he's signed since being sworn in on Jan. 20. One issue expected to be up for discussion ... >> CONTINUE READING <<<

Victory, Pioneer to rebrand funds, maintain governance structure

Nearly a year after announcing it would acquire the U.S. business of French asset manager Amundi, Victory Capital has proposed a reorganization of Amundi's Pioneer Funds into corresponding Victory Pioneer Funds. Pending shareholder approval, the newly branded funds will remain under the purview of the existing Pioneer Funds board, while ... >> CONTINUE READING <<<