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Workplace Passion
A recent Deloitte report analyzes employees with “passion” – a type of worker essential to enabling businesses to thrive in the face of challenges. The report notes that worker “engagement” is...
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Fearless Forecasts
On January 22, 2014 from 2:00 – 3:00 Eastern, NICSA will host a webinar focusing on the “big picture” of what is ahead in 2014. NICSA President Theresa Hamacher will moderate, and her guests will be...
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SEC Staff on Audit Committee Obligations
In December 2013, the Chief Accountant of the Securities and Exchange Commission, Paul Beswick, gave a speech in which he discussed his views of the audit committee’s obligations in selecting and...
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MFDF Webinar: New Disclosures in Mutual Fund Financial Statements
On January 21 from 2 – 3:00 pm Eastern, the Forum will offer a webinar titled New Disclosures in Mutual Fund Financial Statements. Bob Mulhall, a partner at Ernst & Young, will focus on how...
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IM Staff Issues Guidance Update Regarding Risk Management for Fixed Income Funds
Recently, the staff of the SEC’s Division of Investment Management issued guidance suggesting certain information that advisers to fixed income funds and ETFs may wish to provide boards regarding risk...
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SEC Removes References to Credit Ratings from Certain Investment Company Act...
In late December, the SEC adopted amendments eliminating references to credit ratings in certain Investment Company Act rules. Credit rating references were eliminated from Rule 5b-3 which determines...
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MFDF Releases Paper on Board Oversight of Alternative Investments
Today, the Mutual Fund Directors Forum released Board Oversight of Alternative Investments, in response to the increasing number of directors who oversee registered funds offering hedge fund-like...
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FSB and IOSCO Propose Methodologies for Global SIFI designation
The Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) recently proposed methodologies for the identification of systemically important financial...
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Members of Congress Urge Caution in DOL’s Definition of “Fiduciary”
In a letter to the Secretary of Labor, 30 members of the New Democrat Coalition expressed concern about the Department of Labor’s intention to consider re-proposing a definition of “fiduciary” for...
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SEC Chair Mary Jo White Says to Expect Money Market Fund Soon
In a speech at the 41st Annual Securities Regulation Institute, SEC Chair Mary Jo White discussed money market fund reform, among the other Commission changes and priorities for 2014. She told the...
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Commissioner Piwowar Shares Views on Money Market Fund Reform
In a recent speech at the U.S. Chamber of Commerce, SEC Commission Piwowar discussed his philosophy regarding his work as SEC Commissioner and expressed concern about the current regulatory regime...
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Paper Explores Value of Corporate Culture
A recent academic paper, The Value of Corporate Culture, explores whether corporate integrity and correlates with results, including productivity, profitability, industrial relations, and...
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Global Audit Committee Survey
KPMG’s Audit Committee Institute surveyed audit committee members from more than 34 countries to identify broad international trends and audit committee challenges. While the audit committee...
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Information Asymmetry Between Board, Management
Information gaps between management and a board, known as “information asymmetry,” can pose a risk to boardroom operations. NACD and McGladrey LLP have published a white paper outlining warning signs...
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Senators Critical of OFR Report on Asset Management Industry
In a letter to Treasury Secretary Jacob Lew dated January 23, 2014, five Senators expressed their concern over the September 2013 study on the asset management industry published by the Office of...
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PCAOB Drops Mandatory Audit Rotation
According to a Wall Street Journal report, the Public Company Accounting Oversight Board (“PCAOB”) has decided not to pursue mandatory auditor rotation for public companies. The report states that...
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SEC Charges Money Manager for Misleading Advertisements
The SEC recently charged Mark Grimaldi, a money manager, and Navigator Money Management (NMM), for making false claims in advertisements regarding the success of NMM’s advice and the Sector Rotation...
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MFDF Webinar: The 2014 Federal Legislative Outlook
On February 12 from 2 – 3:00 pm Eastern, the Forum will offer a webinar titled 2014 Federal Legislative Outlook. Tim Jenkins and Shelby Hagenauer of Nossaman LLP will discuss the 2014 outlook for...
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SEC Commissioner Aguilar Discusses Need to Protect Nation’s Retirees
In a recent speech, SEC Commissioner Aguilar addressed the need to protect retirees. He cited a recent survey which found that Americans plan to retire at a median age of 65, but that the actual...
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SEC Releases Strategic Plan for 2014 - 2018
The SEC recently released its strategic plan for 2014-2018. The document outlines the agency’s mission, vision, values, and strategic goals. The plan lays out four strategic goals: Establish and...
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