MFDF News Feed

March 2, 2021

Stephanie Capistron, Adam Teufel and Kaitlin McGrath from Dechert LLP will provide an overview of board oversight responsibilities for ETFs with a particular focus on semi-transparent ETFs.

March 1, 2021

The IM Division appears ready to approve another request for a 1940 Act exemption that would permit a fund board to approve new sub-advisory agreements and material amendments to existing sub-advisory agreements without complying with the in-person meeting requirement of Section 15(c) of the 1940 Act.

February 25, 2021

The Weil Gotshal lawyers recommend that boards vary their evaluation format periodically to encourage “new perspectives and illuminate actionable areas for improvement.”

February 24, 2021

George Michael Gerstein and Sara Crovitz will provide updates on the state of current DOL and SEC regulation around ESG and proxy voting/engagement and what may be coming from the regulators under new leadership.

February 23, 2021

In a 2018 speech former Investment Management Division director Dalia Blass remarked on the changing market practices around indexes and whether it was worth revisiting the status of certain index providers under the securities laws.

February 22, 2021

The report notes that since 2019 the SEC has launched exam initial requests inquiring about firms’ processes and procedures for identifying, vetting, testing, implementing, and monitoring entities or individuals that provide investment research.

February 18, 2021

The decision will empower senior officers to exercise the delegated authority of the Commission to authorize staff to subpoena documents and take sworn testimony, according to a statement by the acting chair of the agency.

February 17, 2021

Recent legislation codifies the SEC’s ability to obtain repayment of illegally gotten gains and pursue other forms of relief against securities laws violators.

February 16, 2021

Experts from Dechert will discuss the recently modernized regulatory framework for fund of funds arrangement.

February 11, 2021

Harvard Business School and the Executive Leadership Council announced a collaborative effort to provide enhanced programming opportunities for recipients of the Executive Leadership Council’s scholarships and executive education opportunities for senior black executives in corporate America.

February 10, 2021

The researchers observed that retirement plans are among the most important distribution channels for mutual funds and that in 2018, mutual funds managed more than 60% of the $5.2 trillion invested in 401(k) plans.

February 9, 2021

Acting SEC Chair Allison Herren Lee along with SEC commissioners issued a release, stating in part the SEC “will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws.”

February 8, 2021

The U.S. Treasury report states that the market stresses and significant outflows experienced last March by prime and tax-exempt money market funds highlights the need for further regulatory reforms.

February 4, 2021

Directors may see different approaches on which lawyers are in the boardroom based upon facts and circumstances of the individual fund complex, the size and complexity of complex, level of resources, and historical practice.

February 3, 2021

Lawyers caution that the court decision is an important reminder that, outside directors may want to avoid using their work email accounts to send or receive board materials that otherwise may be privileged.

February 2, 2021

Join Thoreau Bartmann, Senior Special Counsel, Rulemaking in SEC’s Division of Investment Management; Paul Kraft, a partner at Deloitte; and Paulita Pike, a partner at Ropes and Gray for an overview of the SEC’s recently adopted rule on Good Faith Determinations of Fair Value. The webinar will broadcast live from 2 pm - 3 pm (ET).

February 1, 2021

A report in the Financial Times explores the state of mergers and acquisitions in the asset management industry and predicts that investors want to see more firms joining together in 2021.

January 28, 2021

Among challenges EY lists are: the lack of generally accepted reporting standards; lack of quality ESG data, and lack of compliance with evolving ESG-related laws and regulations.

January 27, 2021

Jamila Abston and Marc Saidenberg from EY will discuss the key drivers of impact for the mutual fund industry in the new administration. The webinar will broadcast live from 2 pm - 3 pm (ET).

January 26, 2021

The comment letter proposes that “all fund shareholder reports include a statement about the role that the board plays in protecting their interests.”