MFDF News Feed

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.”

March 7, 2024

The hearings focused on the regulation of nonbank financial companies, SIFI designation, Basel III proposal, digital assets, and climate change. House Financial Services Chairman Patrick McHenry (R-NC) argued that FSOC has expanded its regulatory reach to fit the Biden administration’s political priorities and is acting like a “roving regulator” under current leadership.

March 6, 2024

The report highlights areas in risk oversight, technology and data security, and board effectiveness. While the report is geared toward corporate directors, there is an impactful discussion of skills and habits that make boards more effective and efficient.

March 5, 2024

The program will touch on the challenges and opportunities AI presents for the regulatory landscapes in the United States, European Union, and United Kingdom. Specific topics that will be discussed include: data protection, copyrights, patents, contracts, financing, ediscovery, and more.

March 4, 2024

The FinCEN proposed rulemaking would require certain investment advisers to apply AML and Countering the Financing of Terrorism (AML/CFT) requirements pursuant to the Bank Secrecy Act (BSA), including implementing risk-based AML/CFT programs, reporting suspicious activity to FinCEN, and fulfilling recordkeeping requirements.

February 29, 2024

The Securities and Exchange Commission (SEC) announced that William Birdthistle, the Director of the Division of Investment Management, will vacate his position effective March 8. Natasha Vij Greiner, currently the Deputy Director of the Division of Examinations, will be named Director of the Division of Investment Management after Director Birdthistle’s departure.

February 28, 2024

The Securities and Exchange Commission granted relief to three Nuveen closed-end funds to exclude a shareholder proposal by Saba Capital Management from the funds’ proxy materials.

February 27, 2024

ICI Mutual will provide historical context, discuss current fund industry claims, and offer observations on the state of the market for directors and officers/errors and omissions and independent director liability insurance for funds and fund independent directors.

February 26, 2024

February 22, 2024

Chair Gensler emphasized that AI has the potential to transform markets, offering benefits such as improved efficiency, lower costs, and enhanced risk management. He also spoke about the risks associated with AI, including potential biases, cybersecurity threats, and market manipulation.

February 21, 2024

Ama A. Adams, Managing Partner at the Ropes & Gray Washington, DC office and Paulita A. Pike, Managing Partner of the Ropes & Gray Chicago office will examine recent Biden Administration action impacting outbound investment into China, and other related topics.

February 20, 2024

The conference will allow fund directors, CCOs, and industry colleagues to engage with key topics and issues from fund board rooms and the regulatory agenda.

February 15, 2024

The report highlights legal developments in the financial services space, including: Tailored Shareholder Report FAQs, state-level ESG court challenges, and the SEC's approval of Spot Bitcoin ETFs.

February 14, 2024

The Mutual Fund Directors Forum and Morgan Lewis plan to host a webinar titled, “Proxy Voting by Asset Managers: Current Trends and Issues.” Jack O'Brien and Chris Trueax will discuss the latest proxy voting trends and issues faced by asset managers.

February 13, 2024

The article highlights the differences between private credit and private equity, discusses the drastic change in the size of global credit offerings, and engages in a discussion around the potential risks private credit may pose to the overall financial system.

February 12, 2024

Enforcement lawyers at Stradley Ronon will review key enforcement themes and results for fiscal year 2023 including those discussed in the SEC’s own enforcement report.

February 8, 2024

The Securities and Exchange Commission (SEC) voted 3-2 to adopt final rules concerning SPAC initial public offerings and de-SPAC transactions. In his statement of support, Commission Chair Gary Gensler commented, “Today’s adoption will help ensure that the rules for SPACs are substantially aligned with those of traditional IPOs, enhancing investor protection through three areas: disclosure, use of projections, as well as issuer obligations.”

February 7, 2024

The hearing focused on the Commission’s proposed rulemaking on corporate issuers’ disclosure of climate risk and impact. Subcommittee Chairman Bill Huizenga (R-MI) noted that in the wake of the Supreme Court decision in West Virginia v. EPA, the SEC should rethink the scope of its proposals as it may see many of them challenged in court.

February 6, 2024

The SEC’s Office of Investor Education and Advocacy, along with FINRA and the North American Securities Administrators Association (NASAA) jointly issued an Investor Alert regarding the risk of investment fraud associated with AI and other emerging technologies. The Investor Alert highlights the increase in investments in AI-focused companies, and managers evaluating these investments in their funds should conduct thorough due diligence regarding the use of AI and associated compliance controls and oversight.

February 5, 2024

K&L Gates partners will look back at the Commission’s 24 adopted rules and 18 new proposals, while also touching on key priorities from the Division of Examinations and the Division of Enforcement.