MFDF Webinar: Evaluating the Evaluators - New Guidance on Pricing from the SEC
The SEC’s recent release adopting amendments to money market funds contained new guidance for mutual fund directors regarding their valuation obligations. The release discusses the obligations of...
View ArticleA 75-Year Retrospective on the Investment Company and Investment Adviser Acts
Jay Baris and Andrew Donohue review the 75-year history of investment company and investment adviser regulation in Still Spry at 75: Reflections on the Investment Company Act and the Investment...
View ArticleDepartment of Labor Releases Fiduciary Proposal
The Department of Labor issued a proposal on Tuesday for its long-awaited fiduciary rule. The proposal provides that “any individual receiving compensation for providing advice that is individualized...
View ArticleNew Forum Report: The Board/CCO Relationship
The Forum recently released a paper titled The Board/CCO Relationship, which provides significant insights for fund directors and other fund industry professionals on elements of a fund board’s...
View ArticleIMF Examines Mutual Fund Systemic Risk
The latest version of the International Monetary Fund’s Global Financial Stability Report includes a chapter on “The Asset Management Industry and Financial Stability.” The report acknowledges changes...
View ArticleRegulators Seek Pause Button on Repo Termination Rights
Global banking regulators are pushing industry groups to make changes to the standard contracts that govern repurchase agreements and securities lending transactions, the Wall Street Journal reports....
View ArticleSEC Charges BlackRock with Failure to Report Conflict of Interest to Board
The SEC recently charged BlackRock Advisors LLC and its former CCO with violations relating to conflicts of interest resulting from the activities of a portfolio manager. According to the SEC, the...
View ArticleSEC Releases Valuation Guidance FAQs
The SEC released a two-question set of Frequently Asked Questions related to the valuation guidance that was included with the July 2014 Money Market Funds release. The release stated that the board...
View ArticleDechert to Hold Alternative Funds Symposium
Dechert’s Financial Services group is hosting a Global Alternative Funds Symposium on Wednesday, April 29 from 2:00 to 6:00pm in New York. The event will feature keynote addresses from Barry Bausano,...
View ArticleSEC Fines Adviser for Skewed Profitability Reporting
The SEC settled a case last week against Kornitzer Capital Management (“KCM”), adviser to the Buffalo Funds, and Barry Koster, KCM’s CFO and CCO, for alleged violations of Section 15(c). According to...
View ArticleSEC Releases FAQ on Money Market Fund Reforms
The Division of Investment Management released a set of 53 Frequently Asked Questions last week relating to the money market reforms adopted in July 2014. The document was accompanied by an FAQ on the...
View ArticleFive Years Later, Flash Crash Spoofer Arrested
Last week, UK authorities arrested Navinder Singh Sarao, a futures trader that the CFTC claims may have contributed to the May 6, 2010 “Flash Crash”. In a September 2010 report, the SEC and CFTC...
View ArticleVolcker Suggests Financial Regulatory Shakeup
The Volcker Alliance, an organization launched in 2013 by former Fed Chair Paul Volcker, released a report last week calling for an overhaul of the United States financial regulatory system which it...
View ArticleNorwegian Wealth Fund Offers Insights on Sourcing Liquidity
A new report from Norges Bank Investment Management, an asset manager responsible for managing the Government Pension Fund of Norway, offers insight into how the asset manager sources liquidity for...
View ArticleE&Y to Hold Annual Mutual Fund Seminar Series in New York, Chicago, Boston
Ernst & Young’s annual Mutual Fund Seminar series kicks off in New York on May 13, 2015. The event will feature keynote speaker William McNabb, III, Chairman and CEO of Vanguard. The seminar will...
View ArticleDivision of Investment Management Releases Cybersecurity Guidance
The SEC’s Division of Investment Management released guidance last week that addresses issues of cybersecurity for funds and advisers. The guidance cites attacks against financial services firms,...
View ArticleEffective Board Especially Crucial for New Alternative Funds
In a recent article for FINalternatives, Forum President and CEO Susan Wyderko, reminds advisers coming from the private fund space that a well-functioning board is key to a fund’s success. Wyderko...
View ArticleA Preview of 2015 Advisers Act Developments
According to Jesse Kanach, asset management can be boiled down to three principal aspects: outreach, operation, and market interaction. In Investment Advisers Act Compliance Developments in 2015,...
View ArticleETF Growth Outpaces Mutual Funds
ETFs are seeing significant growth vis-à-vis mutual funds, according to new data from Broadridge Financial Solutions. In retail channels (independent and wirehouse broker dealers, registered...
View ArticleMFDF Webinar: Fund Director Compensation - The MPI Annual Survey (2015)
Management Practice has conducted an annual survey of mutual fund director compensation for over 20 years. Each spring MPI releases its "Survey of Mutual Fund Director/Trustee Compensation and...
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