On August 5, 2020, the Securities and Exchange Commission (SEC) proposed amendments to the disclosure framework for mutual funds and exchange-traded funds (ETFs) and to the advertising rules applicable to investment companies...more
After 26 years and the issuance of over 300 exemptive orders, the Securities and Exchange Commission (SEC or Commission), through the rulemaking process, is seeking to simplify and streamline the regulatory process for new...more
The differences between the respective cost structures of exchange-traded funds and mutual funds and the nature of advisory services provided for each product may require boards to think about the Gartenberg factors...more
Exchange-traded fund (ETF) products and sales have proliferated dramatically in the past five years and the trend promises to continue. It is no surprise then that established mutual fund companies have been eager to enter...more
On October 13, 2016, the Securities and Exchange Commission (SEC) approved three new rules under the Investment Company Act of 1940 (Investment Company Act). The new rules will impose liquidity requirements, authorize the use...more