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Valuation
RMK Directors to Settle with SEC Over Valuation Charges
March 28, 2013
The former directors of the Regions Morgan Keegan funds have agreed to settle with the SEC over valuation charges. A joint motion filed yesterday stated that the directors had agreed with SEC staff in principle to a settlement on all major terms. The settlement… read more
WSJ Discusses Potential Impact of RMK Case on Fund Industry
March 26, 2013
According to the Wall Street Journal, the Morgan Keegan valuation case may be a sign that the SEC is increasing its scrutiny of mutual fund directors and could hold them more accountable than the agency has in the past. Last month, Bruce Karpati, chief of… read more
PwC Issues Brief on Fund Fair Value Prices
March 05, 2013
PwC has written a regulatory brief addressing mutual fund fair value practices. The brief discusses valuation procedures and tells boards they should be vigilant for such things as changes in market conditions, types of investments being acquired, or changes in pricing service capabilities or pricing… read more
RMK Directors File Responses in Enforcement Proceeding
January 07, 2013
The former Morgan Keegan directors have filed responses in the SEC enforcement proceeding against them. As reported previously, on December 10, 2012, the SEC filed an order instituting enforcement proceedings against eight former independent directors of the Regions Morgan Keegan Funds, alleging valuation failures. The… read more
Evergreen PM Found to Have Caused Valuation Failures
January 04, 2013
Former Evergreen portfolio manager, Lisa Premo, has been found by an SEC Administrative Law Judge to have willfully aided and abetted and willfully caused violations of securities laws due to her role in mispricing securities held in the Evergreen Ultra Short Opportunities Fund in… read more