SEC Staff Faced With Slew of Hedge Fund Questions

The leaders of the American Bar Associations subcommittee on private investment entities have asked the SECs Division of Investment Management to provide interpretative guidance on twenty-eight hedge fund related issues, as spelled out in a June 23 letter. The questions are divided into two groups: those specifically related to the application of the SECs hedge […]

Outsourcing Class Action Monitoring

Thinking of outsourcing the job of tracking class action settlements and filing claims notices? Institutional Shareholder Services recently held a webcast discussing its Shareholder Class Action Services. Bruce Carlton, who heads ISSs SCAS service, described the product, and Chris Woods of American Century Investments described his firms experience using it. A transcript of the webcast […]

Got Plans for the Summer?

The next Division of Investment Management director is nowhere in sight. The confirmation of Rep. Christopher Cox (R-CA) as the new SEC Chairman could take months. There doesnt seem to be any rulemaking on the brink of adoption, and there are no new scandals making headlines. Could the summer of 2005 give CCOs a much-needed […]

Funds’ Business Ties May Influence Proxy Voting Policies, Says Study

A recent academic study concludes that while a fund groups pension business may not sway individual voting decisions, it may affect decisions made at the proxy voting policy level. In a paper titled “Would Mutual Funds Bite the Hand that Feeds Them?,” two University of Michigan business professors used data from the first round of Form […]

Personal Trading and Proxy Tests

Heres a few more tests, as suggested by Pickard and Djinis partner Mari-Anne Pisarri at last weeks ICAA/IA Week conference: Personal tradingAfter each quarter, determine which access persons did not file their quarterly transaction reports within 30 days of the end of the calendar quarter. “If you spend a lot of time tracking [access persons] […]

Egan-Jones Letter Doesnt Necessarily Require Case-by-Case Determinations

In a September 15 no-action letter, the Division of Investment Management staff confirmed that consistent with its May 2004 Egan-Jones no-action letter, an adviser may determine that a proxy voting firm is capable of making impartial proxy recommendations in the best interest of the advisers clients based on the proxy voting firms conflict procedures, rather […]

Proxy Reporting Hits Snags; GAO Issues Report

Whats with the dozens and dozens of amended Form N-PXs filed in the past two weeks, following the August 31 deadline? Some fund groups may be discovering that filing the form wasnt so simple after all. And IM Insight is hearing tales of proxy voting service providers that did not vote proxies that they were […]

Form N-PX Deadline Looms

Move over October 5, theres a new deadline in town. By August 31, all registered open-end and closed-end funds will be required to disclose their proxy voting records on new Form N-PX. The form, which will be publicly accessible on the SECs EDGAR filing system, will reveal how funds voted their proxies for the twelve-month […]

SEC Staff Imposes New Due Diligence Burdens on Advisers That Vote Proxies

A recent SEC staff no-action letter has imposed new obligations on all SEC-registered advisers that use an outside proxy voting service, such as ISS, IRRC, Egan-Jones, or Glass Lewis, to help vote client proxies. The letter raises particularly vexing issues for advisers that rely on ISS, which provides corporate governance consulting services to issuers that […]

Audio Interviews

How to Read an SEC Enforcement Action

Stern Tannenbaum law firm partner Aegis Frumento on how to get the most from reading an SEC administrative order or court complaint.

Most Important Supreme Court Decisions for Advisers and Funds

Find out the high court decisions from recent years that are likely to affect how advisers and investment companies work from Debevoise partner Robert Kaplan. 

Top 10 Cybersecurity Steps to Take Now

Sutherland law firm partner Brian Rubin shares the most urgent cybersecurity steps for investment advisers.

Top Marketing Problems … and Solutions

Get solutions for the top marketing challenges that advisers face from ACA Compliance Group managing director Kimberly Daly

Watch Out for 5 Cybersecurity Myths

ACA Aponix Director Pascal Busnel on the most common cybersecurity myths that may cause firms to spend resources where they may not be needed.

The Hidden Costs of Non-Compliance

Proskauer law firm partner and former SEC Division of Investment Management deputy director Robert Plaze on why the costs of non-compliance go way beyond an SEC penalty.

CCO Liability: How to Protect Yourself

Find out from Blue Edge Capital CCO Margaret Fretz what chief compliance officers may be liable for and best practices to make sure you are protected.

Ethics or Compliance: Making the Choice

Find out the difference an ethics, rather than a compliance, perspective makes at an advisory firm from former Ethics and Compliance Officer Association COO Timothy Mazur.