News

April 15, 2024

The webinar will highlight the latest from the MPI Annual Survey of Investment Firm Profitability and implications for fund director oversight.

April 11, 2024

In early April, MFDF published an Investment Lawyer article titled, “Artificial Intelligence Oversight: Implications for Mutual Fund Boards,” which provides an overview of artificial intelligence and the current regulatory environment, as well as key oversight considerations for fund directors.

April 10, 2024

The article notes that to fulfill their role, boards need to stay abreast of new developments and continue their intellectual curiosity. Additionally, the article states that “[e]ach person at the table has a duty to contribute to discussions by asking questions and, when necessary, challenging groupthink.”

April 9, 2024

Panelists will discuss the future of SEC regulation of AI and predictive data analytics, congressional initiatives affecting AI in financial services, compliance and risk considerations for generative AI, and best practices for AI governance.

April 8, 2024

The program will highlight recent court decisions, pending litigation, and an overview of CEF activism to date.

April 4, 2024

The Division of Exams highlights the impact the shortened settlement cycle will have on market participants like broker-dealers, clearing agencies, and registered investment advisers. Changes include analyzing current business practices to ensure they conform to new requirements, updating computer systems, and adjusting certain technology features.

April 3, 2024

The paper highlights the advantages of the ETF wrapper including intraday trading, tax efficiencies, and lower fees all of which are leading to increased investor flows and increased mutual fund to ETF conversions. Additionally, the paper covers whether the rise of ETFs means the "death" of mutual funds more generally.

April 2, 2024

Management Practice Inc. (MPI) is currently working on their annual “Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices” and requests participation from the CCO community in gathering data.

April 1, 2024

The event will focus on the growth of private credit, concerns from certain banks about competition, and fears from regulators about the impact on financial stability.

March 28, 2024

After the Commission released its final rule “The Enhancement and Standardization of Climate-Related Disclosures for Investors” nine separate petitions were filed to challenge legal challenges were filed against the Commission’s rule. On March 22, it was announced that the Eighth Circuit Court would hear the case.

March 27, 2024

On March 18, the Securities and Exchange Commission announced an enforcement action against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their use of artificial intelligence (AI).

March 26, 2024

A panel of EY financial services experts weighs in on the latest developments impacting registered funds, including a legislative and regulatory update.

March 25, 2024

The U.S. House of Representatives advanced a package of bills titled “Expanding Access to Capital Act of 2023” (H.R. 2799) by a party line vote, 212-205. In addition to the package of bills, several amendments were offered on the House Floor as part of the package, including the “Increasing Investor Opportunities Act” sponsored by Capital Markets Subcommittee Chairman Ann Wagner (R-MO).

March 20, 2024

Federal Reserve Board Chairman Jerome Powell delivered testimony as part of the “Semi-Annual Monetary Policy Report to Congress” to both the House Financial Services Committee and the Senate Banking Committee. The hearings focused on the independence of the Federal Reserve when examining monetary policy, the Basel III framework, housing issues, interest rates generally, and the impact immigration has on the labor force.

March 19, 2024

Athena Alliance released the “AI Governance Playbook for Boards and Management” that serves to guide boards and management through ethical and strategic decisions to harness AI's potential responsibly.

March 18, 2024

Nasdaq plans to host a webinar titled “Navigating the SEC's Climate-Related Disclosure Ruling.” The program will highlight key takeaways from the Commission’s final rule on corporate disclosure of climate related risk.

March 14, 2024

In his remarks, Commissioner Uyeda emphasized the importance of regulatory clarity for market participants. He noted the Commission “was designed by Congress to have a degree of independence from the political process,” and in return, “the Commission’s jurisdiction is limited to only those areas specifically authorized by statute.”

March 13, 2024

FUSE research recently released two reports highlighting predictions for fund flows and overall economic stability for 2024. The first report identifies product developments, hiring trends, emerging issues, and investor flows. In the second report, FUSE predicts that the Fed will have interest rates around 4.25%-4.75% while also warning of the buzz around artificial intelligence.

March 12, 2024

The Mutual Fund Directors Forum, Morgan Lewis, and EY will host a webinar titled “Understanding Spot Bitcoin Exchange-Traded Products.” The program will highlight key aspects of the recently approved Spot Bitcoin ETP products and what trustees should know if an adviser integrates the product into a fund’s portfolio.

March 11, 2024

The Securities and Exchange Commission (SEC) in a 3-2 vote, finalized the rule proposal “The Enhancement and Standardization of Climate-Related Disclosures” that was originally proposed on March 21, 2022. In his statement of support for the final rule, SEC Chair Gary Gensler noted the final rules, “would provide investors with consistent, comparable, decision-useful information, and issuers with clear reporting requirements.”