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SEC Proposes Reforms for BDCs, Closed-End Funds, Adopts Rules to Simplify...
The SEC proposed rule amendments mandated by Congress aimed at improving access to capital and facilitating investor communications by BDCs and registered closed-end funds. The proposed amendments...
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SEC Staff to Hold Fintech Forum on May 31 at SEC Headquarters
The SEC announced that its staff will host a public forum focusing on distributed ledger technology (DLT) and digital assets on May 31, 2019. The forum is being organized by the agency’s Strategic Hub...
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Insurers Collaborate to Offer Cyber Products Ratings System
A group of insurers led by Marsh & McLennan has developed a program to evaluate cybersecurity software and technology sold to businesses, the Wall Street Journal reported. The Cyber Catalyst...
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Law Firm Memo Explores Key Questions on Data, Risks
A memo by Shearman & Sterling partner Nathan Green focuses on data, regulation and risks and can be a helpful primer for directors as firms increasingly use data and algorithms in their investment...
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Portfolio Construction, Transaction Costs Worth a Look as Index Fund Fees...
In a recent article, Morningstar writer Ben Johnson notes the field of low- and no-fee index funds and ETFs is growing ever more crowded and that while some existing shareholders benefit in these fee...
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Best Interests Regulation Still Facing Questions, Criticisms
The House Financial Services recently held a hearing on the controversial Regulation BI, which the SEC is expected to adopt sometime in 2019. The committee memo provided a status update on the...
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Former Stein Aide Likely Nominee for Commissioner Spot
Allison Lee, a former SEC enforcement lawyer and aide to Commissioner Kara Stein, is the likely nominee to fill Stein’s seat, according to Bloomberg and other media reports. Lee, formerly of the SEC’s...
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Deloitte Article Explores Risk Oversight Considerations for Boards
According to a Deloitte survey of over 500 crisis management executives, 80 percent of organizations worldwide have had to mobilize their crisis management teams at least once in the past two years,...
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D&O Insurance Rates Eyed as Corporate Directors Increasingly Targeted
A report in the Financial Times cites research showing a rising number of shareholder lawsuits against corporations, officers and boards, largely related to the #MeToo movement and data privacy issues,...
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MFDF Webinar: Unbundling Commissions Under MiFID II
The impact of the EU's MiFID II regulation has been far-reaching, raising important regulatory and business considerations on investment research fees, among others. Howell Jackson, Law Professor at...
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Retirement Proposals Gain Wide Support
Both the U.S. House and the Senate have pushed forward proposals to overhaul the retirement system, which could be a boon for the asset management industry. The Wall Street Journal reports that the...
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MFDF Webinar: Peer Group Construction: Modern Methods for an Evolving Industry
Please join Paul Ellenbogen and Jeff Tjornehoj from Broadridge for an engaging conversation about a fundamental element of the 15(c) contract renewal process, fund peer groups. This webinar will be...
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SEC Moves Toward Approval of Non-Transparent ETFs
The SEC advanced Precidian Funds’ application to introduce an actively managed ETF that would not be required to disclose its portfolio holdings to the wider market on a daily basis. The SEC previously...
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MFDF Webinar: Board Oversight of Closed-End Funds
Please join Nathan Briggs, a partner at Ropes & Gray, as he discusses several of the most important issues that are unique to overseeing closed-end funds, including, among others, (a) a closed-end...
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Improving Director Onboarding Beyond Traditional Orientation
According to lawyers from Wachtell Lipton Rosen & Katz, “onboarding new directors is becoming a more extensive and significant undertaking than it has been in the past.” The lawyers write in an...
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Data Analytics Reshaping Distribution Function
Two papers from consulting firms McKinsey and Casey Quirk explore technology’s impact on the asset management distribution model and suggest that firms should allocate more resources into distribution...
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Commissioner Jackson to Step Down
According to media reports, SEC Commissioner Robert Jackson is expected to leave his post to begin teaching at New York University Law School in the fall. The Wall Street Journal reports that Jackson’s...
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MFDF Webinar: Interval Funds and Tender Offer Funds - Potential Growth Areas...
As the IPO market for traditional listed closed-end funds continues to remain slow, more closed-end funds are being structured as interval funds and tender offer funds. These funds are not listed on a...
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Wilshire Report: Active Managers Outperforming in Some Categories
Despite the doom and gloom surrounding actively managed funds, a report from Wilshire Associates shows certain market segments where active managers are outperforming benchmarks. As reported in...
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OMB Memo Targets Agencies’ Issuance of Non-Binding Guidance
A memo from the White House’s Office of Management and Budget asserted the authority by which Congress is able to exercise direct oversight of federal agencies’ actions, and emphasized that Congress...
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