The U.S. Securities and Exchange Commission on April 21, 2020 proposed a long-anticipated framework for fair valuation of fund investments. Proposed Rule 2a-5 under the Investment Company Act of 1940 would establish...more
5/26/2020
/ Board of Directors ,
Fair Value Standard ,
Fund Managers ,
Good Faith ,
Investment Adviser ,
Investment Company Act of 1940 ,
No-Action Letters ,
Proposed Rules ,
Rescission ,
Securities and Exchange Commission (SEC) ,
Valuation
Two recent SEC Enforcement Division administrative settlements reinforce the importance for fund boards of directors and fund advisers to maintain a robust annual advisory contract renewal process....more