Roundup: Law Firm Analysis of RMK Director Valuation Case

On December 10, 2012, the SEC filed an order instituting enforcement proceedings against eight former independent directors of the Regions Morgan Keegan Funds, alleging valuation failures.  Several law firms have issued alerts containing their a summary of the case and analysis, including implications for board directors:

• Dechert: SEC Focuses on Fair Valuation in Recent Enforcement Cases

• Ropes & Gray: SEC Brings Enforcement Action Against Mutual Fund Directors For Alleged Failures in Oversight of Valuation Committee

• Debevoise: Fund Directors Charged in Recent SEC Enforcement Case Targeting Valuation

• Davis Polk: SEC Charges Mutual Fund Directors for Inadequate Valuation Oversight

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