A bill to rationalize the taxing of mutual funds has the support of mutual fund director industry groups.
The Mutual Fund Directors Forum has again taken issue with a Wall Street Journal article about the decision in the case of Jones v. Harris Associates shining a spotlight on directors.
The Independent Directors Council is highlighting the role the board plays in the oversight of target-date funds with the release of a new paper on the topic.
During a House subcommittee hearing, the Investment Company Institute voiced its opposition to pending legislation that requires every corporate issuer to have an independent chairman.
As markets began to rebound, so did director compensation for 2009 with many boards moving back into their normal pattern of increases after staying basically flat for 2008.
In conjunction with its annual policy conference, the Mutual Fund Directors Forum has revamped its website in order to expand its offerings and functionality for fund board use.
Meyrick Payne, senior partner at Management Practice, says directors should not overlook investment strategy when engaging in peer review during contract renewal.
Attendees at a recent Conference of Fund Leaders roundtable spoke about expanding beyond a narrowed, focused look at specific risk-related issues.
The Mutual Fund Directors Forum and the Investment Company Institute have both panned a recent Wall Street Journal editorial that said the new rules on money market funds were harmful to investors.
The Independent Directors Council has released a paper focusing on board oversight of subadvisors.
Consultant group Management Practice has issued a bulletin looking into the idea of integrating a performance fee into director compensation.
The Independent Directors Council has urged the Securities and Exchange Commission to exempt investment companies from plans to boost shareholders' ability to nominate directors.
ICI Mutual is working on a study on prospectus liability risk that is slated to be released in the first half of 2010.
Removing references to credit ratings of nationally recognized statistical rating organizations (NRSROs) from Rule 5b-3 and replacing it with a more subjective standard is unnecessary and may create more work for fund boards, according to the Investment Company Institute.
Separating the notice to shareholders about an upcoming election from the proxy card actually used to vote will not cause shareholders to cast a more informed vote, according to the Investment Company Institute in a comment letter to the Securities and Exchange Commission.
As assets of management companies experience a rebound, directors should be aware that their profitability is still lagging as of the second quarter of 2009, according to Management Practice.
The Securities and Exchange Commission's strategic plan for 2010-2015 omits any reference to modernizing the duties of fund board members--a subject the SEC has been working on for some time.
Industry groups are using social media sites to reach directors.
The Independent Directors Council is enhancing its focus on newer directors at its Investment Company Directors Conference Nov. 11-13 in Amelia Island, Fla.
The Mutual Fund Directors Forum is focusing on elements of the Jones v. Harris case and questions that have arisen from the recent market turmoil for its fourth annual Directors' Institute Jan. 26-28 in Coral Gables, Fla.
The Independent Directors Council and the Mutual Fund Directors Forum both have come out in support of a Securities and Exchange Commission proposal on enhancing board disclosures involving objective and factual information, but differed in their support of requiring disclosures on the board's role in risk management.
The Independent Directors Council has released a paper for directors focusing on board oversight of compliance.