MFDF News Feed
The MFDF News Feed is an electronic journal, or "blog," of alerts, analysis, news and tools focused on the needs of independent directors. Click here to subscribe to the MFDF News Feed and have it delivered electronically to your e-mail inbox.
-
April 13, 2022
House Financial Services Subcommittee Examines Stock ExchangesThe hearing focused on topics such as access to market data, anti-money laundering policies, and competition among exchanges, among other issues.
Learn more -
April 12, 2022
California Judge’s Ruling Spells Defeat for Board Diversity LawThe Wall Street Journal reports that the “quota” law was the first of its kind in the U.S. and followed a similar California measure enacted in 2018 that mandated female directors on all boards of the state’s public companies, which is also facing legal challenges.
Learn more -
April 11, 2022
SEC Division of Examinations Announces 2022 PrioritiesEXAMS will focus on private funds, ESG investing, retail investor protections, information security and operational resiliency, emerging technologies, and crypto assets.
Learn more -
April 8, 2022
Biden to Nominate 2 for SEC Commissioner PostsThe Democratic nominee is Jaime Lizárraga, who currently serves as Senior Advisor to Speaker of the House Nancy Pelosi. The GOP nominee Mark T. Uyeda is a career attorney with the SEC and is currently on detail from the SEC to the U.S. Senate Committee on Banking, Housing, and Urban Affair.
Learn more -
April 7, 2022
Deloitte Webinar on April 14 to Focus on Tools, Solutions for Valuation Rule ComplianceJoin Deloitte’s Investment Management team for a conversation and demonstration of innovative accelerators and tools to help navigate the extensive compliance requirements within the Valuation rule. The webinar will take place on April 14 from 1-2:30 p.m. ET.
Learn more -
April 6, 2022
SEC’s $2.15 Billion Budget Ask Includes 400 New PositionsFor FY 2023, the SEC is seeking to increase its workforce by 400 positions, including 125 positions in the Division of Enforcement and 13 new positions for the Division of Investment Management.
Learn more -
April 5, 2022
Birdthistle Stresses Importance of Investor Participation, Fiduciary Duty under 36(b)IM Division Director Birdthistle: “If a substantial portion of costs are being drawn out of investment companies through revenue sharing, soft dollar, and other practices with little visibility and even less familiarity, how reasonable is our expectation that investors should know when to exit?”
Learn more -
April 4, 2022
ACA Cyber Survey Tracks Trends in Spending, OversightAccording to the survey, the median cyber budget for firms with AUM over $20 billion was $100-250,000, whereas the median cyber budget for firms with AUM under $1 billion was $10-25,000.
Learn more -
March 31, 2022
Finra Reminds Members of the Scope of Rule Pertaining to Potential CCO LiabilityThe notice regarding CCO liability follows efforts to address concerns regarding increased enforcement actions holding CCOs personally liable.
Learn more -
March 30, 2022
Robo-Adviser Sanctioned for Compliance Failures, Non-Adherence to Investment ProcessThe order alleged that while the adviser advertised its adherence to Shari’ah compliant investing, the firm failed to adopt and implement written policies and procedures reasonably designed to address its Shari’ah advisory decision-making processes and compliance reviews and oversight.
Learn more -
March 29, 2022
LIBOR Legislation Signed into Law by President BidenThe LIBOR Act is the work of a bipartisan group of legislators including Senator Jon Tester (D-MT), Senator Thom Tillis (R-NC), and Representative Brad Sherman (D-CA) working on language to address “tough legacy” contracts as well as other issues surrounding the transition away from LIBOR.
Learn more -
March 28, 2022
SEC Releases Anticipated Climate Disclosure ProposalThe proposal would require public companies to disclose annually potential risks and risk management processes from climate-related events, how any climate-related risks identified have or are likely to have a material impact on its business, as well as disclosure of any climate-related commitments and plans to achieve those targets.
Learn more -
March 24, 2022
Biden Releases Order on CryptocurrencyThe order also notes the importance of mitigating risk in illicit finance and national security posed by digital asset use, as well as the importance of working with the international community to respond to such risks.
Learn more -
March 23, 2022
SEC Commissioner Herren Lee Announces DepartureLee’s departure leaves two open seats for President Biden to fill at the Commission, former Republican Commissioner Elad Roisman stepped down in December.
Learn more -
March 23, 2022
MFDF WEBINAR: Mutual Fund Litigation and Enforcement Update, March 23, 2-3 pm ETJoin Dechert partners as they highlight mutual fund industry litigation from 2021 and provide a preview of what to expect in regulatory enforcement in 2022. The webinar will broadcast live from 2 pm - 3 pm (ET).
Learn more -
March 21, 2022
MFDF WEBINAR: MPI’s Annual Survey of Investment Firm Profitability and Economies of Scale, March 22, 2-3 pm ETJoin Sara Yerkey, with Management Practice Inc, and Kelley Howes, Vice Chair of Investment Management at Morrison and Foerster LLP as they provide highlights from the latest MPI Annual Survey of Investment Firm Profitability.
Learn more -
March 17, 2022
Risk Top of Mind as Global Conflict Impacts IndustryAsset managers have cut back on their Russia investments, and some index providers, including MSCI and FTSE Russell, have removed Russian equities and debt, according to Reuters.
Learn more -
March 16, 2022
SEC Proposes Cybersecurity Disclosure Framework for Public CompaniesAccording to Chairman Gensler the proposal “would specify when and what information about cybersecurity incidents companies must disclose in a current report, such as on Form 8-K. It also would require updates in periodic reports to give investors more complete information on previously disclosed, material cybersecurity incidents.”
Learn more -
March 15, 2022
Hill Update: Financial Services Hears from PowellMembers of Congress focused their questions on inflation, interest rates, the implications for the financial system due to the crisis in Ukraine, stable pricing mandate, and cybersecurity preparedness among financial institutions.
Learn more -
March 14, 2022
IM Director Birdthistle Delivers First Public RemarksBirdthistle spoke in support of recent Investment Advisers Act rule proposals that if adopted would “close gaps in information and enhance investor protections in light of industry developments,” specifically noting the Commission’s cybersecurity rule proposal.
Learn more