News & Analysis as of

Valuation Mutual Funds

In Case You Missed It: Launch Links - March 2016 #4

by WilmerHale on

Some interesting links we found across the web this week: - How The Fiduciary Rule Will Harm Fintech And Startups - The Department of Labor may not be the first federal agency on an early-stage startup founder’s...more

A Compilation of Enforcement and Non-Enforcement Actions

by Foley & Lardner LLP on

Non-Enforcement - SEC Decides Against Mounting an Appeal in Koch Ruling - The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more

SEC Enforcement Actions Against Investment Advisers

by K&L Gates LLP on

According to the SEC’s most recent financial report, as of August 2014, SEC-registered investment advisers managed $62.3 trillion in assets. Not surprisingly, investment advisers attract a great deal of attention from the...more

Canadian Investment Fund Regulatory Review for Q3 - 2015

by DLA Piper on

The Canadian investment fund industry has been the subject of various regulatory developments in the third quarter of 2015. This bulletin provides a summary of certain key takeaways that will be useful for investment fund and...more

New Valuation Guidance: A Reminder of Directors’ Responsibilities

In the December 2014 issue of Fund Directions, Investment Management partner Jay Baris discusses in the “Learning Curve” column challenges faced by mutual fund directors as they struggle to comply with new valuation guidance...more

A Compilation of Enforcement and Non-Enforcement Actions

by Foley & Lardner LLP on

Non-Enforcement - Cost of Proposed User Fees by Registered Investment Advisers Further Discussed - SEC Valuation Guidance for All Funds - Update on Insider Trading in Mutual Fund...more

Fair Valuation and Mutual Fund Directors: New Guidance from the SEC

by Reed Smith on

1. Previous Guidance Codified by the Release - Much of the guidance included in the Release is already in section 404 of the CFRP. In fact, the amount of repetition in the revised section may confuse a first-time...more

Fair Valuation and Mutual Fund Directors: The Great Valuation Divide and Its Implications

by Reed Smith on

The 1940 Act’s requirements for valuing portfolio securities may be summarized as follows: the board of directors must determine, in good faith, the fair value of every portfolio security for which a market quotation is not...more

Fair Valuation and Mutual Fund Directors: Alternative Approaches to Valuation

by Reed Smith on

Directors’ legal responsibilities for valuing portfolio securities is a logical place to start an examination of why misvalued securities pose a risk to independent directors. This Client Alert therefore considers the...more

SEC Slaps Fund Directors for Violating Fair Value Responsibilities

by Morrison & Foerster LLP on

On June 13, 2013, without admitting or denying the allegations, eight former directors of five mutual funds agreed to settle SEC charges that they failed to satisfy their fair valuation responsibilities under federal...more

The SEC Is Scrutinizing Asset Valuations—Are You Ready?

by Pepper Hamilton LLP on

The Securities and Exchange Commission (SEC) recently has set its sights on registered entities and their officers and directors for overvaluing the entities’ assets....more

SEC Charges Eight Mutual Fund Directors for Failure on Valuations

by Katten Muchin Rosenman LLP on

On December 10, the Securities and Exchange Commission announced charges against eight former member of the boards of directors overseeing five mutual funds for violating their asset pricing responsibilities under the federal...more

SEC Brings Enforcement Action Against Mutual Fund Directors For Alleged Failures in Oversight of Valuation Committee

by Ropes & Gray LLP on

On December 10, 2012, the SEC filed an order instituting enforcement proceedings (the “OIP”) against both the interested and the independent directors of five registered investment companies advised by Morgan Asset...more

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