Fund Governance Content

March 15, 2013 Elizabeth M. Murphy Secretary Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 20549-1090 Re: NYSE Proposal Concerning Proxy Distribution Fees (File No. SR-NYSE-2013-07) Dear Ms. Murphy: The Investment Company Institute1 is responding to the...

November 1, 2012 Ms. Elizabeth M. Murphy Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: Proposed Rule Change to Nasdaq Listing Standards to Comply with Rule 10C-1 (File No. SR-NASDAQ-2012-109) Dear Ms. Murphy: The Investment Company Institute (...

The Independent Directors Council (IDC) has issued a new paper, Board Oversight of Exchange-Traded Funds in order to assist directors of exchange-traded funds (ETFs) in performing their oversight responsibilities. The demand for ETFs has grown markedly as investors—both institutional...

A recent Wall Street Journal headline posed the question, “Is Your Fund’s Board Watching Out for You?” (June 10, 2012).

Shareholders deserve better than a recent MarketWatch column’s clear misunderstanding of a mutual fund director’s work. To correct just a few points:

As the SEC continues to consider flawed proposals that would have far-reaching consequences for money market funds, two groups representing mutual fund independent directors and trustees released a joint statement registering their deep concerns about any further changes to the...

Reporters, academics, and others who are unfamiliar with investment companies sometimes question the unusual structure of fund boards. Unlike operating companies—where each company as a rule is overseen by its own board—multiple funds in a complex typically share common boards. In...

November 7, 2011 Ms. Elizabeth M. Murphy Secretary Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 20549-1090 Re: Use of Derivatives by Investment Companies under the Investment Company Act of 1940 (File Number S7-33-11) Dear Ms. Murphy: The Investment Company...

Fund Boards Follow Strong Governance Practices to Best Serve Shareholders Study from IDC and ICI Examines Trends in Fund Governance Practices Since 1994 Washington, DC, October 19, 2011 - Fund governance practices continue to evolve to the benefit of funds and their shareholders, and...