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The Forum News Feed is an electronic journal, or "blog," of alerts, analysis, news and tools focused on the needs of independent directors. You can subscribe to the Forum News Feed and have it delivered electronically to your e-mail in box.
Scholar Examines the Effect of the Tax Code on US Mutual Funds
December 23, 2008
Harvard Law School professor, John C. Coates IV, has recently published a paper examining the taxation of U.S. mutual funds and, in particular, how this tax treatment may create disadvantages for U.S. mutual funds in the global market. Coates previewed a draft of the… read more
Interactive Data for Mutual Fund Risk/Return Summaries
December 22, 2008
On December 18, 2008, the SEC approved final rules requiring mutual funds, starting in 2011, to include data tags in their public filings supplying investors with such information as objectives and strategies, risks, performance, and costs. The Commission believes that requiring funds to add electronic… read more
OCIE Director: Surveillance and Risk-Based Fund Overight
December 19, 2008
Lori Richards, Director of the SEC's Office of Compliance Inspections and Examinations, addressed the ICI's Securities Law Development Conference on December 16, and shared her thoughts on how SEC oversight of mutual funds might be improved by the greater use of technology and data analysis.… read more
Mary Schapiro to be Nominated to Head the SEC
December 18, 2008
President-Elect Obama announced that he plans to nominate Mary Schapiro, currently Chief Executive Officer of FINRA (which is the successor organization to the NASD), to be Chairman of the SEC. Following his inauguration next month, President-Elect Obama will submit her name… read more
Fund Audit Committees and PCAOB No. 3
December 15, 2008
When dealing with their fund's audit firm, directors and trustees serving on the board's audit committee may find it useful to familiarize themselves with the PCAOB's Auditing Standard No. 3 on audit documentation. Knowing the general requirements for documentation imposed on auditors can… read more