Directors and Fund Governance Content

On July 30, the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a notice of proposed rulemaking (NPR) that would amend the agency's existing regulations under the Change in Bank Control Act (CBCA). The NPR reflects concerns expressed by various FDIC Board...

Linked below is the comment letter that ICI filed today with the SEC, which expresses serious concerns with how the SEC's proposed amendments to the liquidity rule would affect mutual funds and ETFs investing in bank loans. This letter elaborates on points made about bank loan funds...

ICI has requested guidance, in the attached letter, from the Treasury Department and Internal Revenue Service (IRS) on two liquidity fee-related tax issues for money market funds (MMFs).

Last week, the State of Maryland enacted several amendments to its corporate laws that, among other things, will apply its "control share" statute to registered closed-end funds and business development companies (together, "funds") that are structured as statutory trusts.[1]...