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IM Director Birdthistle: Are funds' fiduciary duties 'truly being honored'?


In a speech on Monday, William Birdthistle, the new director of the Securities and Exchange Commission's Division of Investment Management, pondered whether mutual funds are honoring their fiduciary duties under Section 36(b) of the Investment Company Act of 1940 given that no plaintiff has ever been successful in suing the industry ... Log in to view full article.