MFDF News Feed

October 4, 2022

Welcome to the Forum's four-part series covering board recruitment including key considerations and common approaches. The series will be featured each Tuesday in October. This installment outlines important questions for boards to consider before beginning a candidate search.

October 3, 2022

After months of negotiations, the PCAOB, the China Securities Regulatory Commission, and the Ministry of Finance of China reached an agreement that provides the PCAOB with the sole discretion to select the subject of its accounting firm inspections and investigations without involvement from Chinese authorities.

September 29, 2022

Morgan Lewis and the SEC Historical Society plan to hold an event titled “From OCIE to the Division of Examinations: A Leadership Perspective on the Past and Future of the SEC Examinations Program.” The program will cover the evolution of the Division of Examinations from its beginning in 1995.

September 28, 2022

Gwen Williamson, Partner at Perkins Coie in Washington, DC, sets forth a series of questions directors should consider if the fund complex they oversee has an ESG product. The post notes that “fund boards should work with the chief compliance officer (CCO) and the fund adviser to understand the overall approach to ESG investing in the fund complex.”

September 27, 2022

In recent years, the demand for ESG data has exploded, including demand from investors, companies, and regulators. This demand, the authors state, “has in many ways outstripped the ability of suppliers to supply the depth, detail, and accuracy of data required.”

September 26, 2022

On Wednesday, Deloitte plans to host a webinar highlighting the fund manager’s role in risk management oversight.

September 22, 2022

A report released by The Conference Board highlights insights about board refreshment policies and practices as well as director evaluations at S&P 500 and Russell 3000 companies. The report “Board Refreshment and Evaluations” focuses on how corporate boards can achieve member refreshment (while turnover remains low) as well as how evaluations can be used to promote diversity and refreshment.

September 21, 2022

The Forum will host a webinar with Perkins Coie to discuss investment and regulatory updates regarding blockchain, fintech, and digital assets.

September 20, 2022

At the end of July, Delaware Governor John Carney signed into law amendments (Control Share Statute) to the Delaware Statutory Trust Act (DSTA) which apply to all registered closed-end funds (CEFs) and business development companies (BDCs) that are organized as Delaware statutory trusts and have a class of equity securities listed on a national securities exchange.

September 19, 2022

Ernst & Young recently released a report on corporate board issues entitled, “How to Increase the Board’s Impact in Volatile Times” which analyzes how corporate boards view, measure, and can improve their strategic value.

September 15, 2022

Paul Reisz of PIMCO will discuss the impacts of rising rates, inflation, global volatility and other market volatility issues that affects fund investment strategies.

September 14, 2022

The SEC published a draft Strategic Plan spanning FY2022-2026 that establishes three primary goals for the agency. Those goals include: 1) investor protection; 2) a regulatory framework that keeps pace with evolving markets; and 3) building out a skilled SEC workforce that is diverse and able to advance the SEC’s mission.

September 13, 2022

During this webinar, Professor Stewart will dive in to the key findings from his latest research Performance, Perception, and Manager Selection.

September 12, 2022

In a recent article, the authors provide a mid-year update to ESG related issues, a discussion of the war in Ukraine, and summarize key regulatory developments including SEC enforcement actions and the impact the recent Supreme Court case, West Virginia v. Environmental Protection Agency.

September 8, 2022

The authors of the report state that in the past “agencies presumably saw Chevron deference as an important tool to use in writing regulations” with a study noting a 94%-win rate (from 2003-2013) if the court made it to the second step of the framework. However, in recent years the report notes “agencies could be shying away from explicitly citing Chevron,” and that there are “major actions by this administration [Biden] that do not cite the case at all.”

September 7, 2022

A recent study analyzes changes to mutual funds’ declared benchmarks and how performance metrics for those funds changed as a result. The study notes that funds choosing to switch their benchmark experienced an average 0.8% increase in one-year returns, a 2.4% bump over five years, and 4.8% improvement in the 10-year time frame.

September 6, 2022

Davis Polk and McKinsey & Company will host a joint webinar on recent SEC proposals to enhance ESG disclosures and fund name requirements for registered funds as they face novel legal and compliance challenges related to ESG disclosure proposals.

August 25, 2022

A recent blog post highlights a Glass Lewis report that details trends in the 2022 proxy season, including that shareholders are still focused primarily on board diversity and executive compensation.

August 24, 2022

The Mutual Fund Directors Forum submitted two comment letters to the SEC this month covering recent proposals on ESG disclosure by funds and investment advisers as well as a on a proposal that would amend the Names Rule.

August 23, 2022

A recent blog post entitled, “West Virginia v. EPA Casts a Shadow Over SEC’s Proposed Climate-Related Disclosure Rule” discusses the impact the Supreme Court’s June 30 decision may have on the SEC’s current rule proposals. The authors note that the Court’s decision could interfere with the SEC’s proposed rule on climate-related disclosure.