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IM Director Testifies Before House Committee
Dalia Blass, director of the SEC’s Division of Investment Management,faced questions from lawmakers on the SEC’s recent withdrawal of no-action letters related to proxy advisory firms and other topics...
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Merger would Propel Invesco into Ranks of Top Players
According to media reports, Invesco is in talks to acquire Oppenheimer Funds in a $5 billion deal. The deal is expected to place Invesco’s assets under management to around $1.2 trillion, on par with...
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SEC Charges Firm with Deficient Cybersecurity Procedures
The SEC announced a settlement with Voya Financial Advisors Inc., a broker-dealer and investment adviser, relating to failures in cybersecurity policies and procedures surrounding a cyber intrusion...
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EY Report Looks at Trends in Audit Committee Reporting, Notes Rise in...
Consulting firm EY released a report on audit committee reporting trends for 2018. The US survey of investors generally indicated high degrees of confidence in the audited financial information...
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SEC Penalizes Former PM, Putnam for Improper Cross Trades
The SEC recently announced that Putnam Investment Management and one of its former portfolio managers facilitated dozens of prearranged cross-trades between advisory client accounts in a manner that...
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MFDF Webinar: CCO Compensation: The MPI Annual Survey 2018
Management Practice has conducted an annual survey of mutual fund Chief Compliance Officer compensation for the past 13 years. Each summer MPI releases its "Survey of Mutual Fund Chief Compliance...
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Commissioner Stein Calls for New Thinking on Cyber Regulation
SEC Commissioner Kara Stein in a recent speech doubled down on the need for expanded cybersecurity regulation and said she has asked SEC Chairman Jay Clayton to prioritize an expanded version of...
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International Bank Blockchain Gaining Participants; UK Report Skeptical of...
More than 70 banks, including JPMorgan, have joined a blockchain designed to speed up payments and head off competitors in the payments sector, the Financial Times reports. Large international banks...
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IM Division Makes Gesture to Boards with Affiliated Transactions No-Action
The SEC’s Division of Investment Management issued a no-action letter regarding fund board oversight of cross trades, or affiliated transactions. According to SEC rules, a fund may engage in...
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Academics Challenge “Negative” Conventional Wisdom on Active Management
A group of academics, including Martijn Cremers known for his work on active share, recently released a paper contending that their review of current academic literature suggests that the conventional...
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Blass Remarks on Board Outreach, Efforts to Effectively Focus Director Oversight
In a recent speech, the SEC’s IM Division Director Dalia Blass discussed the division’s board outreach and recent efforts to modernize fund director responsibilities. Blass said she has interacted with...
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Peirce Says Regulatory Restraints on Performance Fees Worth Examining
In a speech that touched on a number of topics, SEC Commissioner Hester Peirce said the SEC should examine how advisers of actively managed mutual funds are able to be compensated. She observed that...
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Industry Leaders See More Asset Concentration, Hope for Global Expansion in...
In interviews with asset management leaders Barron’s asked top executives about their views on the future of the industry. The questions focused on technology, fees, products and other issues....
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Deloitte Fair Valuation Survey Focuses on Innovation, Oversight of Third Parties
Deloitte’s sixteenth annual Fair Valuation Pricing Survey took a deep dive into innovation and how technology will shape the future of valuation. Deloitte found a small number of its survey...
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MFDF Webinar: MPI Annual Survey of Investment Firm Profitability
Sara Yerkey of Management Practices Inc., will discuss how industry trends are influencing the bottom line margin and the assessment of Gartenberg Profitability benchmarks. This webinar will be...
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Commissioners Chime in on Best Interest Standard, Investor Education and...
“The retirement crisis is a tsunami that is rapidly approaching,” SEC Commissioner Kara Stein said in a recent speech. Stein noted the challenges investors face with saving for retirement and discussed...
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Bitcoin’s Current Hurdles, Prospects Debated
Two experts debated the long-term prospects of Bitcoin in a Wall Street Journal report and came away with different conclusions. One of the experts sees plenty of upside. She noted that: (1) Many...
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CFA Institute Report Dissects “Investment Firm of the Future”
The CFA Institute recently published a report on its survey of member views on what the future asset management firm will look like. Among CFA Institute members surveyed, 72% expect the pace of...
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Report Assesses Industry Threats, Opportunities for Profitability
A data-rich report by PwC reviewed the landscape for the asset management industry and came to some now-familiar conclusions. Based on the firms surveyed: fees are spiraling; passive is dominating...
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MFDF Webinar: Board Oversight of Variable Product Funds
Although variable product funds present similar oversight responsibilities for boards as retail funds, there are several responsibilities and considerations that are unique to boards overseeing...
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