Download or read book What Role is There for Independent Directors of Mutual Funds written by Kenneth E. Scott and published by . This book was released on 2000 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fund Governance Legal Duties of Investment Company Directors written by Robert A. Robertson and published by Law Journal Press. This book was released on 2001 with total page 906 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fund Director s Guidebook written by Federal Regulation of Securities Committee and published by American Bar Association. This book was released on 2006 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for directors of both open-end investment companies (typically referred to as mutual funds) and closed-end funds, this new Third Edition offers suggestions to assist directors in their roles and obligations. The new edition has been updated to reflect key legal developments that have emerged since the second edition appeared in 2003 including the impact of the Sarbanes-Oxley Act and initiatives undertaken by the SEC in response to the mutual funds scandals occurring in 2003 and 2004.
Download or read book Duties and Responsibilities of Directors of Mutual Funds written by Alfred Jaretzki and published by . This book was released on 1964 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What Independent Directors Should Request of Mutual Fund Advisers written by John A. Haslem and published by . This book was released on 2017 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The background to this study is the failure of mutual fund independent directors to fulfill their obligations as ldquo;shareholder watchdogs,rdquo; as defined in the Investment Company Act of 1940. Normative transparency of information is fund adviser disclosure proactively ldquo;requestedrdquo; by independent directors to enable their fiduciary roles as ldquo;shareholder watchdogs.rdquo;U.S. District Judge Feess's opinion in a mutual fund case of excessive fees provides a candid assessment of independent director performance. He supports the view that directors are likely to ldquo;go alongrdquo; with mutual fund adviser plans and actions. This view suggests directors are unlikely to ldquo;requestrdquo; normative information required to serve the ldquo;primary interestsrdquo; of fund shareholders.The judge's opinion includes numerous revealing insights on the performance [poor] of independent directors. These revelations and other relevant issues in the opinion provide case-based support for independent directors to ldquo;requestrdquo; fund advisers to provide normative transparency of information for their analysis. To achieve normative transparency of information Independent directors and advisers of major funds known for shareholder stewardship must strongly, vigorously, and proactively work together to gain approval in Congress and/or the SEC. The outlook is not bright, but the goal is worthy of the challenge.
Download or read book Investment Company Act Release written by United States. Securities and Exchange Commission and published by . This book was released on 1967 with total page 974 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fund Director s Guidebook written by Federal Regulation of Securities Committ and published by American Bar Association. This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fund Director's Guidebook, Fourth Edition covers open-end funds (typically referred to as mutual funds), closed-end funds and exchange-traded funds. It is intended to assist directors of investment companies registered under the Investment Company Act of 1940 in fulfilling their responsibilities. Since 2006 when the third edition was published, there have been significant developments affecting funds in the wake of the 2008-2009 financial crisis and the resulting legislation, the Dodd-Frank Act. There also has been increased civil litigation involving funds and their service providers, and a more active role of the SEC and its staff in asserting securities law fund-related violations, including SEC enforcement actions against independent directors brought under the 1940 act's compliance rule. This guidebook provides directors with: an overview of the functions, responsibilities, and potential liabilities of fund directors; information about the structure and operations of the board and its relationship to the investment adviser, the distributor, and others; assistance to directors in discharging their responsibilities; suggestions as to how independent directors can best fulfill their responsibilities; and much more.
Download or read book Corporate Governance and Responsible Investment in Private Equity written by Simon Witney and published by Cambridge University Press. This book was released on 2021-01-07 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity-backed companies are ubiquitous and economically significant. Consequently, the corporate governance of these companies matters to all of us, and – not surprisingly – is coming under increasing scrutiny. Simon Witney, a practicing private equity lawyer, positions private equity portfolio companies within existing academic theory and examines the laws that apply to them in the UK. He analyses the actual governance frameworks that are put in place and identifies problems created by the legal rules – as well as the market's solutions to them. This book not only explains why these governance mechanisms are established, but also what they are expected to achieve. Witney suggests that private equity owners have both the incentives and the capability to focus on responsible investment practices. Good governance, he argues, is a critical success factor for the private equity industry.
Download or read book The Fund Industry written by Robert Pozen and published by John Wiley & Sons. This book was released on 2015-02-02 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to how your money is managed, with foreword by Nobel laureate Robert Shiller The Fund Industry offers a comprehensive look at mutual funds and the investment management industry, for fund investors, those working in the fund industry, service providers to the industry and students of financial institutions or capital markets. Industry experts Robert Pozen and Theresa Hamacher take readers on a tour of the business of asset management. Readers will learn how to research a fund and assess whether it's right for them; then they'll go behind the scenes to see how funds are invested, sold and regulated. This updated edition expands coverage of the segments of the industry where growth is hottest, including hedge funds, liquid alternatives, ETFs and target date funds—and adds an introduction to derivatives. Mutual funds are a key component of financial planning for 96 million Americans. Nearly a quarter of U.S. household savings are invested in funds, which give individual investors affordable access to professional management. This book provides a detailed look at how firms in the industry: Invest those savings in stocks and bonds Evaluate the risks and returns of funds Distribute funds directly to consumers or through financial advisors or retirement plans Handle the complex operational and regulatory requirements of mutual funds Vote proxies at the annual meetings of public companies Expand their operations across borders Along the way, the authors describe the latest trends and discuss the biggest controversies—all in straightforward and engaging prose. The Fund Industry is the essential guide to navigating the mutual fund industry.
Download or read book Mutual Fund Performance and Governance Structure written by Bill Ding and published by . This book was released on 2014 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper conducts a comprehensive analysis of the relation between the performance and governance structure of open-end, domestic-equity mutual funds during the 1985 to 2002 period. We show that experienced large-fund portfolio managers outperform their size, book-to-market, and momentum benchmarks, but that experienced small-fund portfolio managers underperform their benchmarks -- indicating the presence of managerial entrenchment in the mutual fund industry. When we examine the role of fund boards, we find that independent directors are crucial for terminating underperforming seasoned portfolio managers, as outflows are not sufficient to pressure the management company to do so. In fact, our evidence indicates that independent boards impact pre-expense performance much more significantly than their prior-documented impact on fund fees. We also find a role for internal governance: inside directors and large management company complexes appear to better monitor performance due to “hidden actions,” as well as terminating underperforming inexperienced managers.
Download or read book Management Investment Companies written by Investment Company Institute (U.S.) and published by . This book was released on 1962 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulation of Money Managers written by Tamar Frankel and published by Wolters Kluwer. This book was released on 2015-09-16 with total page 4826 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Regulation of Money Managers (with the original subtitle: The Investment Company Act and The Investment Advisers Act) was published in 1978 and 1980. The Second Edition, subtitled Mutual Funds and Advisers, was published in 2001 and has been annually updated since then. It is a comprehensive and exhaustive treatise on investment management regulation. The treatise covers federal and state statutes, their legislative history, common law, judicial decisions, rules and regulations of the Securities and Exchange Commission, staff reports, and other publications dealing with investment advisers and investment companies. The treatise touches on other financial institutions such as banks, insurance companies, and pension funds. The work also discusses the economic, business, and theoretical aspects of the investment management industry and their effects on the law and on policy. The treatise contains detailed analysis of the history and development of the Investment Company Act and the Investment Advisers Act. It examines the definitions in the Acts, including the concept of ‘‘investment adviser,’’ ‘‘affiliates,’’ and ‘‘interested persons.’’ It outlines the duties of investment company directors, the independent directors, and other fiduciaries of investment companies. The treatise deals with the SEC’s enforcement powers and private parties’ rights of action.
Download or read book Fund Director s Guidebook written by and published by American Bar Association. This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for directors of open-end investment companies (typically referred to as mutual funds) and closed-end funds, this new edition offers suggestions to assist directors in their roles and obligations.
Download or read book The Role of Independent Directors After Sarbanes Oxley written by Bruce F. Dravis and published by American Bar Association. This book was released on 2007 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is intended to provide independent directors and their advisors with an understanding of the primary legal and governance issues that have evolved in the corporate governance environment since the passage of the Sarbanes-Oxley Act in 2002. The text on the accompanying CD-ROM sourcebook offers hypertext linked footnotes to direct lawyers (or interested non-lawyers) to legal source material.
Download or read book A Study of Mutual Fund Independent Directors written by William J. Nutt and published by . This book was released on 1971 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book When is a Mutual Fund Director Independent The Unexplored Role of Professional Relationships Under Section 2 A 19 of the Investment Company Act written by Larry D. Barnett and published by . This book was released on 2009 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: An investment company that must register with the Securities and Exchange Commission is required by the Investment Company Act to have a specified percentage or number of directors who are not quot;interestedquot; in the company. To be not interested (i.e., to be independent), a director of an investment company is barred by section 2(a)(19) of the Act from inter alia having had, during the last two completed fiscal years of the company, a material business relationship or a material professional relationship with specified parties. The Commission, in interpreting section 2(a)(19), has not clearly distinguished the two types of relationships and has not focused on professional relationships apart from business relationships. The article contends that this is contrary to the intent of Congress. Accordingly, the article (i) identifies both the elements of a business relationship and the elements of a professional relationship; and (ii) reviews three no-action letters in each of which the Commission staff could have found that a proposed arrangement would have created a professional relationship for an investment company director.
Download or read book Regulation and Governance of Mutual Funds written by Mohammed Khair Alshaleel and published by Taylor & Francis. This book was released on 2022-08-12 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a detailed analysis of mutual fund regulations and governance in the UK from the investor protection perspective. It comprehensively describes mutual funds by their function, social utility, and legal attributes, examining the level of protection provided to retail investors under existing regulations. Mutual funds are externally managed with fund ownership separated out from their management, which carries a potential conflict of interest between the self-interests of the fund management and each fund’s investors. The book provides an in-depth analysis of this agency problem in the mutual fund industry, comparing the competing governance models in the UK and the US and the supervision of management activities. In the UK, it investigates the main governance mechanisms, including disclosure, the effectiveness of voting rights, and the role of the Financial Conduct Authority in protecting investors. It also considers the role of prudential regulations in protecting mutual fund investors, with a particular focus on risk management and mutual fund liquidity crisis. The book further investigates the impact of the withdrawal of the UK from the European Union (Brexit) on the industry and what this means for the future of the undertakings for collective investment in transferable securities (UCITS) in the UK. The concept of mutual funds is still not clearly understood, so this book will clearly define the different legal and practical aspects of mutual funds. It will be the first substantial study of mutual fund governance mechanisms under the existing mutual fund laws and regulations in the UK.
