From the Editor...
It was great to (briefly) see some of you at the Mutual Fund Directors Forum 2017 Policy Conference a couple weeks ago, and we're looking forward to more of a chance to catch up this week at the Investment Company Institute 2017 General Membership Meeting/Independent Directors Council 2017 Fund Directors Workshop. Both events offer great content for fund directors and other industry members and the opportunity to meet up in person before we head into summer.
In the meantime, we continue to follow the many lawsuits alleging violations of the '40 Act's Section 36(b) as they make their way through the legal system. A case against State Farm Investment Management will move forward after a motion to dismiss filed by the defendant was denied, but the industry was pleased by a judge's ruling in a case against Calamos Advisors that shot down a motion to compel the defendant to turn over privileged information.
While we look at individual cases, ICI Mutual has published an annual report that highlights trends in fund litigation and enforcement over the previous 15 months.
Remember, we're always looking for contributed pieces written with mutual fund boards in mind. Please let me know if you'd like to author a piece to be published in FBV's Viewpoints section. Hope to hear from you—and possibly run into you this week in Washington, D.C.
Hillary Jackson, founding editor