News

January 14, 2025

In its decision, the Fifth Circuit held that the SEC failed to prove that Nasdaq’s Board Diversity Rule was consistent with the requirements of the Securities Exchange Act of 1934. According to a client alert from Davis Polk, the “court’s decision means that Nasdaq-listed companies, including foreign private issuers, need not comply with Nasdaq’s board diversity rules.”

January 13, 2025

The program, part of the MFDF series on Artificial Intelligence, will cover how fund directors might themselves use AI and the related risks and caveats. Sidley Austin's Nathan J. Greene & Carla G. Teodoro will highlight how board members might begin to appropriately leverage AI while remaining mindful of its limitations.

January 9, 2025

According to a recent Nasdaq Center for Board Excellence article, many attorneys are concerned about the potential for AI to expose privileged information. The article notes that “[t]he integration of AI into legal practices offers opportunities but also introduces risks that could undermine the confidentiality of sensitive communications.”

January 8, 2025

Dianne Descoteaux, MFDF's senior counsel, will lead the discussion on board processes as covered in MFDF’s 15(c) White Paper, Part Two. Dianne will be joined by MFDF member directors Buddy Donohue, BNY Mellon Family of Funds; Keith Hartstein, Prudential Retail; and Darlene Deremer, VALIC Funds.

January 7, 2025

The MFDF 15(c) White Paper 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.

January 6, 2025

Deloitte's Paul Kraft, partner and Investment Management Marketplace Excellence Leader, and Audit & Assurance Senior Managers Michelle Coombs and Matt Morlock will highlight the results from the 22nd annual Fair Valuation Pricing Survey that confirms fair valuation remains a critical focus for fund groups.

December 23, 2024

While recorded earlier this year, the topics of each program remain pertinent for independent fund directors, CCOs, and industry service providers.

December 20, 2024

The Directors' Institute offers fund independent directors an unique opportunity, using a case study format, to discuss new approaches to critical boardroom issues with experts and their peers in the fund industry.

December 19, 2024

In a recent client alert, Davis Polk highlights potential areas for tax reform in the next Congress and presidential administration.

December 18, 2024

The article addresses the evolving use of AI across the investment management industry and the challenges presented by its rapid growth.

December 17, 2024

The session will cover the applications of skills matrices in fund boardrooms, including how they may be useful in self-assessment and recruitment processes, as well as in circumstances of leadership succession planning and board mergers.

December 16, 2024

Panelists will offer helpful tips and policies to build cyber resilience against evolving threats while also helping professionals better understand SEC cybersecurity disclosure requirements and global regulation trends.

December 11, 2024

Many of the individuals interviewed noted the headwinds in the DEI space but offered suggestions to manage those in the short- and long-term, which includes ensuring the pipeline of exceptional diverse candidates continues to grow and noting that boards should also recruit beyond traditional backgrounds.

December 10, 2024

Stacy Fuller and Kevin Gustafson, partners at K&L Gates, will highlight the differences between oversight responsibilities for boards based on the various ETF product structures and exposures.

December 9, 2024

Cindy Beyea, Harry Pangas, and Darius Ravangard, partners at Dechert LLP, will discuss key topics and considerations for BDC independent directors, including valuation, co-investment, and other affiliated transactions.

December 5, 2024

President-Elect Donald Trump nominated Paul Atkins to serve as the next Chair of the Securities and Exchange Commission (SEC). Atkins is widely known as a supporter of cryptocurrency and will likely focus on this area if confirmed. In a social media post, President-Elect Trump noted that Atkins “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before."

December 5, 2024

The framework provides additional considerations such as setting expectations for the conversion project, early and ongoing communication, and understanding market flows, among others.

December 4, 2024

The program will prepare audit committees and management teams for upcoming year-end meetings and explore top-of-mind issues for audit committees heading into 2025.

December 3, 2024

In five administrative actions, the Securities and Exchange Commission (SEC) charged JPMorgan Securities LLC and JPMorgan Investment Management for alleged failures including, “misleading disclosures to investors, breach of fiduciary duty, prohibited joint transactions and principal trades, and failures to make recommendations in the best interest of customers.” The two affiliates of JPMorgan Chase & Co. agreed to pay more than $151 million in combined civil penalties as well as voluntary payments to investors to resolve four of the ­actions.

December 2, 2024

In November, Securities and Exchange Commission (SEC) Chair, Gary Gensler, announced his intention to depart from his role on Monday, January 20, 2025. During his tenure, he advanced several new rules including Money Market Fund reforms, Names Rule amendments, changes to Form N-PORT and N-CEN, shortening the settlement cycle to T+1, as well as additional final rules on central clearing, the National Market System, private fund reporting, and others.