From the Editor...

We're sending this email a tad early because today is the last working day of the year for us here at Fund Board Views. We'll sign off in a few hours and return on Monday, Jan. 4, 2016. As the year wraps up and we head into the Christmas and New Year's holidays, we're especially grateful for the opportunities we had in 2015 that led to the launch of this new digital publication and for the readers who have given us the chance to deliver news and information in a new—and, we hope, better—way to the mutual fund governance market. 

Speaking of, we have had a lot to write about in the past couple of weeks. The SEC helped us with that, of course. The agency's rule proposal on fund use of derivatives has kept industry participants busy since it came out on Dec. 11, and we've worked hard to bring readers both the details of the proposal and analysis of its possible impact. Be sure to read the most recent Viewpoints from Morrison & Foerster LLP's Jay G. Baris, who does a deep dive into the rule proposal and how boards should be reacting to it. And in case you missed it, our last Viewpoints was penned by former SEC Division of Investment Management Director Norm Champ on directors' valuation responsibilities.

We've also had a bit of fun, reporting on MarketWatch columnist Chuck Jaffe's annual Lump of Coal Awards. It's always interesting to see who Jaffe selects for his list of "losers," and this year he did look in the boardroom. Mostly, however, directors were spared while funds, firms and industry executives were called out.

Going into 2016, boards certainly have a lot to consider. To help them focus a bit, we've compiled a list of items that probably should be on the agenda at some point during the year. Our "10 Things" lists are meant to be quick-and-dirty references that help directors come to grips with a particular topic or organize their thoughts in some way. We hope you find these lists useful.

As we look ahead to 2016, it's clear the year will start off with a bang. The Sivolella v. AXA Equitable Life Insurance Co. trial is due to kick off Jan. 11, and comment letters on the SEC's liquidity risk management rule proposal are due Jan. 13. We're looking forward to bringing you news and analysis on both of these issues and more in the new year.

In the meantime, we extend our very best wishes to you during this holiday season and for a happy, healthy 2016. See ya next year!

For now,

Hillary Jackson, founding editor, Fund Board Views