IDC Update: June 23, 2022
IDC Launches Fund Director Candidate Database Within Diligent Director Network to Promote D&I
IDC recently launched a database for fund board candidates within the Diligent Director Network (login required). The database will help members of the fund industry, including boards of mutual funds, exchange-traded funds (ETFs), and other registered funds, to find diverse, board-ready candidates. Board candidates may use Director Network to create a profile showcasing their relevant skills, expertise, and professional background to potentially be recruited for a fund board. Fund boards can share open positions to attract interested candidates and use the Director Network’s candidate search capabilities to find and recruit diverse talent. This initiative builds upon IDC’s focus in supporting more diversity and inclusion (D&I) in the fund director community. The database was recently highlighted by a media article (subscription required).
Fund directors in the IDC community are eligible for complimentary access to the Diligent Director Network. If you would like assistance in navigating the database, IDC and Diligent are hosting tutorial sessions that will provide short demos and Q&A opportunities. Please feel free to register for a session on Tuesday, July 12 at 2:00 pm ET or Thursday, July 19 at 2:00 pm ET.
Senate Confirms Jaime Lizárraga and Mark Uyeda to Serve as SEC Commissioners
On June 16, 2022, Jaime Lizárraga and Mark Uyeda were confirmed by the United States Senate to serve as commissioners on the Securities and Exchange Commission (SEC). Commissioner Lizárraga is an adviser to Speaker of the House Nancy Pelosi. He has played a key role in shaping legislation governing financial services for the past decade. Commissioner Uyeda has had an extensive career in securities law, including spending 15 years as an SEC attorney in the Division of Investment Management. He also served as counsel and adviser to Chair Jay Clayton, Acting Chair Michael Piwowar, and Commissioner Paul Atkins. ICI’s press release congratulating and welcoming the new commissioners is available here.
IDC Holds Foundations Director Orientation Program In-Person in Washington, DC
On June 13–14, IDC hosted an in-person Foundations for Fund Directors® program at IDC’s offices in Washington, DC, for the first time since 2020. We are grateful to all of the participants and facilitators for making the program such a success. IDC will host the next in-person Foundations program in Pasadena, California, on September 14–15, 2022.
ICI Files Comment Letter with SEC on Proposed Public Company Climate-Related Disclosures
ICI recently filed a comment letter in response to the SEC’s proposal on the enhancement and standardization of public company climate-related disclosures for investors. Among other things, the letter urges the SEC to adopt a final rule requiring a public company to file certain climate-risk related information that the company determines is material in annual reports and registration statements (SEC filings) and, to the extent that the company determines this information is not material, to furnish such information to the SEC and any additional SEC-mandated information in a new climate report. ICI’s comment letter is available here.
Recording Available – IDC Webinar on Cybersecurity for Fund Boards: The Current Landscape
On June 9, IDC held a webinar on Cybersecurity for Fund Boards: The Current Landscape. Cynthia Hostetler (Independent Director, Invesco Funds) moderated an informative discussion with Pascal Millaire (CEO, CyberCube, and Independent Director, American Funds) and Josiah Dykstra (Cybersecurity Technical Fellow, National Security Agency) on board oversight of cybersecurity risk management. Panelists updated fund directors on the cyber risk landscape and the role of the cyber insurance market, and also identified some questions fund directors might ask in their oversight role. A recording of the webinar is available here (login required).
Mark Your Calendar for Upcoming Events
All times are shown in eastern time (ET), unless otherwise noted.
IDC/Diligent Director Network Tutorial Orientation
Foundations for Fund Directors®
Please contact Paul Mussoni for additional information. A list of IDC events can be found on IDC’s website.