Author: Allison Lovett, Vice President, Content Manager, NICSA

What is the state of attorney-client privilege in the asset management industry? What constitutes legal advice? Recent rulings in this area have uncovered myriad considerations for fund management teams regarding the protection of confidential and proprietary info.

Writing Confidential/Privileged across the top of a page does not make it so

The recent federal ruling to compel Pimco’s fund board to disclose potentially sensitive documents has employees across the asset management industry examining their methods of communication with boards and counsel. This evolving regulatory landscape coupled with advancement of enhanced digital communication technologies (such as portals, note taking, and messenger features) has led many fund management teams to question how to effectively communicate with independent fund boards in a contemporary setting while safeguarding proprietary information.   Workiva recently hosted a NICSA webinar to take a deeper dive into these issues. (Access the webinar replay here).

The lines between legal advice and business analysis have blurred. Clarity is essential.

Workiva invited a panel of experts from legal, business and regulatory advisor Drinker Biddle to explore best practices regarding communications between fund management and fund boards and helped listeners delineate what constitutes appropriate digital communications. As collaborative decisions and discussions between fund management, fund counsel, independent trustees and their counsel are generally fall outside of the attorney-client privilege, the need for clarity is essential.

If you or a colleague would like to hear more about how fund management teams can develop and execute communications strategies that support the protection of confidential and proprietary information, we invite you to access the webinar replay here.

NICSA would like to thank Workiva for hosting this webinar. Please share this post and the webinar replay with a colleague who may have missed the event.

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