News & Analysis as of

Board of Directors Valuation Enforcement

Dechert LLP

Former Morgan Keegan Directors Settle Valuation Case

Dechert LLP on

The U.S. Securities and Exchange Commission issued a cease and desist order on June 13, 2013 (the “Order”) against former members of the boards of directors (the “RMK Directors” or the “RMK Boards”) of five Regions Morgan...more

Morrison & Foerster LLP

SEC Accuses Fund Directors of Breaching Their Valuation Duties

In a case involving fair valuation of structured notes, the SEC signaled that when investment company fund boards delegate the responsibility to fair value portfolio securities, they must provide “meaningful substantive...more

Dechert LLP

SEC Focuses on Fair Valuation in Recent Enforcement Cases

Dechert LLP on

The U.S. Securities and Exchange Commission (SEC) issued an order commencing an administrative proceeding against the former members of the boards of directors (Boards) of five registered investment companies on December 10,...more

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