News

September 30, 2021

The Spencer Stuart 2021 S&P 500 Board Diversity Snapshot shows that firms are increasingly prioritizing diversity in the makeup of their boards of directors.

September 29, 2021

Industry groups are coming out against a provision in draft legislation from the U.S. Senate Finance Committee that seeks to repeal a section of the tax code that would change the tax treatment of in-kind redemptions by ETFs and mutual funds.

September 28, 2021

The Council says that the papers present a more balanced narrative about the value of active management and suggest “that active and passive both add value for investors in different ways and that active investing is essential to the health of the markets.”

September 27, 2021

This webinar will address how factors such as the pandemic and global political influences on market volatility, changing product demand and other industry trends, including continued acquisitions and mergers, can impact firm operating margins.

September 23, 2021

According to Lee’s blog post, overloaded committee agendas, the absence of a clear delineation of oversight responsibilities, and a lack of understanding of the information needs of each committee can contribute to problems in communication and coordination among committees and the full board.

September 22, 2021

The FINRA Investor Education Foundation and NORC at the University of Chicago surveyed 1,291 households between October 26 and November 13, 2020, and found that these new market entrants skewed younger, earned lower incomes, and were more racially/ethnically diverse than experienced market entrants and previous account holders.

September 21, 2021

Steve Barry, CIO of Fundamental Equity at Goldman Sachs, and Jody Foster, independent director for Hussman Investment Trust, will discuss topics relating to SPACs for mutual fund directors as part of the Forum’s Investment Series. The webinar will broadcast live from 2 pm - 3 pm (ET).

September 20, 2021

Gensler’s testimony covered potential reforms in the funds and investment management space, including money market funds and market resiliency and private funds, among others.

September 16, 2021

The SEC’s orders against each of the firms found that they violated the Safeguards Rule, which is designed to protect confidential customer information.

September 15, 2021

In letters sent out this year, SEC examiners asked advisers to detail the screening processes they use to ensure assets are worthy of ESG designations and requested information on how firms were addressing different jurisdictions’ requirements, Bloomberg wrote.

September 14, 2021

In this webinar a panel of experts, featuring IHS Markit, the SEC, and MFDF President Carolyn McPhillips, will discuss the big questions focused on SEC Rule 18f-4, the modernized regulatory framework for the use of derivatives by funds.

September 13, 2021

A Morningstar study of U.S. mutual funds and ETFs found the asset-weighted average expense ratio across funds was 0.41% in 2020, a 7% decline from 2019, the third-largest year-over-year decline Morningstar has recorded since 1991.

September 9, 2021

The firms also note that more than 1,000 SPAC IPOs have been reviewed by the staff of the SEC over two decades and have not been deemed to be subject to the 1940 Act.

September 8, 2021

Molly Moynihan and Gwen Williamson from Perkins Coie will discuss the challenges boards face while overseeing a complex that offers both ETFs and mutual funds.

September 7, 2021

Among the findings: The number of firms that had one or more audit and/or attestation engagements with deficiencies showed a 14% drop from 2019 but remained high as a percentage of firms inspected (78%).

August 31, 2021

The SEC found that the firm's disclosure controls and procedures were not designed to ensure that those responsible for making disclosure determinations were properly informed about the circumstances surrounding the breach.

August 30, 2021

In its decision, the court of appeals supported a previous ruling that the board’s process for negotiating and reviewing investment-adviser compensation was sufficiently robust.

August 26, 2021

The proposed guidance would offer a framework for banking organizations to consider in developing risk management practices for all stages in the life cycle of third-party relationships that considers the level of risk, complexity, and size of the banking organization and the nature of the third-party relationship.

August 25, 2021

According to the request filed with the SEC, fund independent directors could have obtained permission to own an unaffiliated subadviser’s stock based on specified conditions.

August 24, 2021

Gensler seeks to address concerns that the 2020 amendments could discourage whistleblowers from coming forward.