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Morningstar Lists the Marks of Passive Fund Sponsors that Back Investors’...
A recent Morningstar report analyzed the stewardship practices of large sponsors of passively managed funds to assess the degree to which the firms have aligned their own economic interests with those...
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U.S. Supreme Court to Take on Major Securities Cases this Term
This term the U.S. Supreme Court will consider at least three securities industry cases, according to commentary from lawyers at Paul, Weiss Rifkind, Wharton & Garrison LLP. The first case raises...
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CFTC Commissioner Says Industry Consolidation Heightening Risk
In a speech before the Federal Reserve bank in Chicago, CFTC Commissioner Brian Quintenz said regulators and derivatives clearing organizations (DCOs) must plan for extreme circumstances even though...
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MFDF Webinar: Opt-In or Opt-Out: The Changing Landscape of Securities Class...
As a result of recent changes in the law and extensive data evidencing minimal recoveries by investors in securities class actions, mutual fund boards are giving increased attention to alternative...
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Industry Group Asks SEC to Delay Liquidity Rule Implementation
The Investment Company Institute in a recent letter requested that the SEC adjust the compliance schedule and delay certain requirements of the Liquidity Rule by at least one year. The ICI stressed...
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Corporate Directors Weigh in on Board Leadership, Underperformers, Term Limits
According to PwC’s annual survey of public company directors, U.S. corporate directors are increasingly faced with great expectations from investors and the public. “From seeking action on climate...
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Firms to Seek Regulators’ OK to Launch Bitcoin Futures Contracts
CME Group, a CFTC-regulated derivatives marketplace and exchange group, announced it will launch a futures contract based on bitcoin by the end of the year, subject to regulatory approval. According...
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Nasdaq Alleges ETF Servicing Firm Schemed to Unlawfully Take Over Line of Funds
A lawsuit by Nasdaq, Inc. against a 1940-Act registered firm and other entities claims the defendants initiated a scheme to take over a line of ETFs and keep the profits. According to the complaint,...
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Law Firm to Host Symposium on Industry Trends, Regulatory Environment
Dechert LLP will host its annual Investment Management Symposium on November 28, 2017 in San Francisco. The Symposium will feature multiple panels of speakers who will discuss the evolving legal and...
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Clayton Hints at Enforcement Action on “Hidden” Fund Fees; Heads Off CAT Delay
In a recent speech, SEC Chairman Jay Clayton discussed the agency’s vision for the next four years and its near-term rulemaking agenda. Clayton noted that the SEC’s upcoming rulemaking agenda will be...
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MFDF Webinar: Fall 2017 Washington Update
Tim Jenkins and Shelby Hagenauer of Nossaman LLP will provide an update on activities in Congress and the new Administration, with a focus on the financial services sector.This webinar will be...
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Lawmaker Proposals Target Money Funds, Closed-End Funds, Fund Accounting
A House bill seeks to loosen the rules around closed-end funds and proposes that the SEC within a year after enactment revise any rules to the extent necessary to allow any 1940-Act registered...
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Firm in Dispute with Insurer Over Disclosure of SEC Subpoena
Law360 is reporting that the bankruptcy trustee overseeing the Chapter 11 filing of F-Squared Investments is alleging that two insurers are improperly denying payouts to cover the advisory firm’s legal...
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Regulators, Lawmakers Push Proposals to Loosen Banking Oversight
The U.S. Treasury issued a report recommending changes to FSOC’s process of determining government supervision status and enhanced prudential standards for nonbank financial companies. The report...
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SEC Shifts on ALJ Hiring as DOJ Joins Opponents; Vote for Commissioners May...
The SEC announced that it has ratified its prior appointment of its administrative law judges and issued an order which directs the ALJs, among other things, to review their actions in all open...
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MFDF Webinar: Mutual Fund Valuations – Latest Trends and Industry Practices
During this webinar, Paul Kraft, a Deloitte partner and US Mutual Fund & Investment Management Practice Leader, will discuss the observations from the 15th Annual Deloitte Fair Valuation Survey...
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Proliferation of Algorithms Adds to Boards’ Risk Oversight Responsibilities
A Wall Street Journal report by Deloitte staff observes that the rapid proliferation of algorithms presents risks that require board oversight. The writers note that while algorithms can increase...
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MFDF Webinar: Understanding the Roles of Independent Trustee, Fund and...
Independent Trustee Counsel, Fund Counsel and Adviser Counsel-- why are there different types of counsel and what do they do? Stacy Louizos, a Partner at Drinker Biddle & Reath, will discuss why...
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SEC Delays N-Port Filing Requirements, Requires Larger Funds to Maintain Data...
The SEC recently modified and delayed electronic filing requirements for Form N-Port, which gathers enhanced information about registered funds’ monthly portfolio holdings. The SEC said the delay is...
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Review of Directors’ Responsibilities Among Top Priorities for New IM Director
Mutual fund boards were a main focus of a recent address by the Director of the SEC’s Division of Investment Management. Dalia Blass, the new division director, said review of the role and...
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