From the Editor...
Securities and Exchange Commission Chairman Jay Clayton is keeping us busy in his final weeks on the job, isn't he? In the span of just over a month, the Commission has finalized two long-awaited rules—on funds' use of derivatives and on fair valuation practices. The SEC's second attempt at regulating derivatives use was finalized at the end of October, and its first effort in 50 years to update regulation of funds' fair valuation practices was finalized just last week.
We're talking to fund governance professionals as they digest rule 2a-5—which runs 200+ pages—to determine how it compares to the draft, which was release in April, and what may change with respect to board responsibilities. We'll have an analysis ready for subscribers later this week, so watch your inbox.
Given that there are only a few weeks left in 2020, we've started looking ahead to 2021 and beyond. We've published a couple of pieces on what boards might expect in the new year and the issues on which they are likely really beginning to focus. Check out our latest 10 Things... list and our exclusive interview with Carolyn McPhillips, whose first six months as president of Mutual Fund Directors Forum has been entirely virtual and very busy. She pointed to a number of topics she expects to be top-of-the-agenda for fund directors and the fund industry throughout the coming year. It's an informative read, so don't miss it.
Finally, take a look at our latest monthly PDF, which includes all the stories we posted in November. It's a great reference document and resource to make sure you haven't missed anything.
Hillary Jackson, founding editor