Viewpoints

Articles written by industry professionals for Fund Board Views, may be opinion, commentary, educational/instructional.

Tokenization: Liquidity, custody, contracts—and the road ahead

By Ethan Corey, Michael Koffler, and Carolyn Garcia, Eversheds Sutherland

Tokenization of financial assets has expanded rapidly since the beginning of 2025, even in the absence of regulatory clarity around issues such as custody, trading and the applicability of transfer agent rules to tokenized assets. The first article in this series examined what tokenization is, how real-world assets are tokenized, ... >> CONTINUE READING <<<

Tokenization: Investment potential, trading, and best ex

By Ethan Corey, Michael Koffler, and Carolyn Garcia, Eversheds Sutherland

Tokenization of financial assets has expanded rapidly since the beginning of 2025, even in the absence of regulatory clarity around issues such as custody, trading, and the applicability of transfer agent rules to tokenized assets. The first article in this series examined what tokenization is and how real-world assets are ... >> CONTINUE READING <<<

Tokenization: Benefits, risks, and its impact on fund business

By Ethan Corey, Michael Koffler, and Carolyn Garcia, Eversheds Sutherland

On May 12, the Securities and Exchange Commission Crypto Task Force held a roundtable called “Tokenization: Moving Assets Onchain: Where TradFi and DeFi Meet” at which panelists discussed topics such as how to define tokenization, potential uses for tokenization, the need for regulatory changes to facilitate tokenization, and interoperability among ... >> CONTINUE READING <<<

Sub-Adviser AI Oversight: Focus on what matters

By Joyce Li, CFA

Comprehensive guidance on the oversight of sub-advisers that exists in the market has served mutual fund boards well for over 15 years. These frameworks remain foundational, yet the widespread adoption and increasing sophistication of artificial intelligence (AI) and related technologies now embedded in investment processes, operational functions, and compliance systems ... >> CONTINUE READING <<<

Conflicts of Interest: Fund officers and directors, service providers

By Buddy Donohue

Over the past several weeks, I have written articles exploring conflicts of interest that could challenge a variety of financial industry participants. Those articles explored potential conflicts for fund investment advisers, securities broker-dealers, attorneys, and accountants. In this final article of the series, I will be discussing some of the ... >> CONTINUE READING <<<

Conflicts of Interest: Accountants

By Buddy Donohue

After exploring the potential conflicts of interest that investment advisers, broker-dealers, and lawyers have, we move on to consider potential conflicts involving accountants. In the previous articles, we were concerned with service provider conflicts and how those conflicts affected their ability to serve their clients. As you will see, conflicts ... >> CONTINUE READING <<<