Top of the Agenda - Succession

Vanguard nominates two, as two hit retirement
By Hillary Jackson
The Vanguard board expects to add two new independent directors in early 2025 to fill seats that will be vacated when two long-serving independents retire. The personnel shifts are the latest in a string of recent changes to the board, which named its first-ever independent chairman and a new interested ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Regulatory

SEC: Record penalties, fees in FY'24, enforcement actions drop
The Securities and Exchange Commission collected a record $8.2 billion in penalties and fees during its most recent September-ending fiscal year, even as the number of enforcement actions fell by 26% to 583 in total. SEC Chairman Gary Gensler attributed the drop in enforcement actions to the Division of Enforcement's ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Succession

FT CEFs name independent chair, expands (temporarily)
By Hillary Jackson
A board overseeing 16 Franklin Templeton-advised closed-end funds has named an independent chair and added three new independent directors, enlarging the board temporarily ahead of scheduled retirements. This is the second Franklin Templeton board in the past several weeks to elevate an independent to the top job, which previously had ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Succession

NB Funds adds retired general's international, cyber, AI expertise
By Hillary Jackson
Neuberger Berman Funds has filled a seat vacated last June when independent director and retired naval officer Admiral James Stavridis stepped off the board after serving for nine years. Despite the addition, the board will continue to operate at a smaller size starting in January, as there are no immediate ...  >> CONTINUE READING <<<

 

 

Viewpoints

What will second Trump Administration mean for fund directors?
By Jay Baris and Nathan Greene, Sidley Austin LLP
The bottom line: In the near term, it’s not likely that the roles and activities of mutual fund directors will change much. There will be no pulling back from directors’ fiduciary duties and core oversight responsibilities.
 
But we can expect to see a number of incremental changes that, when taken together ...  >> CONTINUE READING <<<

 

 


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