MFDF - Mutual Fund Directors Forum - Grim Highlights Oversight Role of Fund Boards test

Member Login

Request an account

Sample Banner 2

Grim Highlights Oversight Role of Fund Boards

In a recent speech, Director of the SEC’s Division of Investment Management David Grim stated that fund directors are “always at the front of my mind.” Grim emphasized that the role of a fund director is one of oversight and not “day-to-day management of a fund.” He acknowledged “that if directors are overly burdened with a management function, they can’t effectively serve in their intended capacity.” Grim suggested that the SEC staff focuses on “providing directors with the tools they need to effectively oversee funds” when developing policy recommendations and guidance, pointing specifically to the recent guidance on sub-accounting fees and cybersecurity. He also highlighted the proposed requirements for fund boards in the recent liquidity and derivatives releases, calling the role “vital and focused on oversight.”

  • All
  • Accounting and Audit
  • Advisory Contracts
  • Board Governance
  • Board Governance: Board Leadership
  • Board Governance: Compensation
  • Board Governance: Oversight of CCO
  • Board Governance: D&O Insurance
  • Board Governance: Self-Evaluation
  • Closed-end Funds
  • ETFs
  • Other Oversight
  • Other Oversight: Alternative Investments and Derivatives
  • Other Oversight: Custody
  • Other Oversight: Fixed Income funds
  • Other Oversight: Distribution
  • Other Oversight: Portfolio Trading
  • Other Oversight: Proxy Voting
  • Other Oversight: Securities Lending
  • Legislative News
  • Money Market Funds
  • Reference
  • Regulatory News
  • Risk
  • Shareholder Disclosure
  • Valuation
  • Webinars
  • Aaron New Tag