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In September 2024, MFDF released Part 1 of its 15(c) White Paper series regarding Board Oversight of Advisory Agreement Renewals, titled "Regulatory Requirements and Judicial Caselaw." This piece, and the full four part series, were written in coordination with Morgan Lewis.
In its entirety, the series is intended to serve as a reference regarding the advisory agreement renewal process and relevant enforcement actions, as well as a resource of possible approaches to 15(c) board processes and avenues directors may consider when analyzing complex or challenging facts and circumstances in their review.
Part 1 of the 15(c) White Paper provides a concise and comprehensive background of regulatory requirements and judicial caselaw relating to the 15(c) process.
In its entirety, the series is intended to serve as a reference regarding the advisory agreement renewal process and relevant enforcement actions, as well as a resource of possible approaches to 15(c) board processes and avenues directors may consider when analyzing complex or challenging facts and circumstances in their review.
Part 1 of the 15(c) White Paper provides a concise and comprehensive background of regulatory requirements and judicial caselaw relating to the 15(c) process.