This roundtable focused on factors board consider when evaluating CCO compensation and recent litigation relevant to mutual funds. James N. Benedict with Milbank, Tweed, Hadley & McCloy and Meyrick Payne of Management Practice, Inc. lead the conversation.
Directors are responsible for setting the CCO’s compensation, and boards can find it difficult to establish a compensation structure that can attract and retain qualified individuals while at the same time maintains the CCO’s objectivity. The discussion encouraged attendees to compare and contrast various compensation structures and analyze relevant factors boards can consider in approving compensation for the CCOs. The interactive conversation was moderated by Meyrick Payne of Management Practice, who conducts an annual survey on CCO compensation.
The second segment examined recent fund industry litigation and gave participants the ability to explore how fund boards might best reduce their litigation profile. The discussion was led by James Benedict, a senior litigation partner with Milbank, Tweed, Hadley & McCloy.
The event also included an opportunity for an “around the table” discussion during lunch regarding other current issues of concern to attendees.
The CFL is a unique gathering which provides fund independent chairs and lead independent directors with an opportunity to discuss important issues with other fund leaders. The Conference of Fund Leaders (CFL) is a partnership of the Mutual Fund Directors Forum, the Ira M. Millstein Center for Global Markets and Corporate Ownership at the Columbia Law School, and independent leaders of mutual fund boards of trustees.
|New York, NY||
Milbank, Tweed, Hadley & McCloy
Management Practice, Inc.
WHO SHOULD ATTEND
PRESS / MEDIA