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CFTC Publishes Commodities Rules that May Affect Mutual Funds
February 24, 2011
As we reported in our January 31, 2011 post, the CFTC recently approved rule proposals that, if adopted, could affect certain mutual funds whose portfolios may buy and sell commodities. Under current CFTC rules, registered investment companies are generally excluded from the definition of… read more
Schwab Settles YieldPlus Case with SEC and FINRA
January 20, 2011
Last week, the SEC charged Charles Schwab Investment Management (CSIM) and Charles Schwab & Co., Inc. (CS&Co.) with: making misleading statements regarding the Schwab YieldPlus Fund; failing to establish, maintain and enforce policies and procedures to prevent the misuse of material, nonpublic information; and deviating… read more
RIC Modernization Act Passed by Congress
December 20, 2010
Congress has passed the Regulated Investment Company Modernization Act of 2010, and the bill will move to the President for his signature. As we reported in our September 30, 2010 post, Mutual Fund Tax Bill Wins Approval in House, the bill would modify mutual fund… read more
SEC’s Asset Management Unit Priorities
November 29, 2010
Last week, members of the Forum's staff attended an event in which SEC staff and a number of prominent attorneys discussed the SEC's Division of Enforcement's newly formed Asset Management Unit. While the panelists covered a wide range of issues, including hedge funds, private equity… read more
SEC Issues Guidance on Director Oversight of Affiliated Transactions
November 04, 2010
On November 2, the SEC issued a letter to the Mutual Fund Directors Forum and the Investment Company Institute's Independent Ddirectors Council addressing how boards oversee and review certain transactions between a fund and its advisor (or other affiliates), that have the potential to create… read more