The SEC has announced that it will turn its attention back to 12b-1 reform this summer. That’s a grave disappointment to many in the industry who hoped that the 12b-2 proposal would die of neglect — with its most visible proponent, Buddy Donahue, now back in the private sector and with the Commission distracted by the avalanche of Dodd-Frank rulemakings.
Bob Pozen and I will be at the ICI General Membership meeting tomorrow, Thursday May 5th, signing copies of our new book, The Fund Industry: How Your Money is Managed. We’ll be on the Event Stage in the Exhibit Hall from 4:45 pm to 7 pm during the evening reception.
An investment operation area deals with a high level of complexity on a daily basis — arguably more complexity than any other area in a fund management company. It provides a critical link between the front office and the back office and interacts regularly with all the service providers to a fund, from the transfer agent to the pricing services, from the independent auditor to the prime broker.
When we think about planning for business continuity, we tend to think first about natural disasters such as hurricanes or earthquakes — but the problems that cause an office to close are equally likely to be man-made.
SEC Commissioner Elisse B. Walter announced today that the SEC will return to the issue of 12b-1 reform “in force” this summer, after the 1-year anniversary in July of the passage of the Dodd-Frank legislation.
Eileen Rominger spoke today about her first 9 weeks as the SEC’s Director of the Division of Investment Management. She made her comments at the Mutual Fund Directors Forum 2011 Policy Conference, held in Washington DC.
How does a firm move into the upper echelons of the mutual fund industry? Conventional wisdom will tell you that it has to have top-ranked investment performance, combined with an extensive distribution network.
Highlights from NICSA’s West Coast Regional meeting, held Thursday, April 21, at the offices of the Capital Group in Los Angeles, California:
“A lot of the velociraptors are interested in becoming T.
The Foreign Account Tax Compliance Act was designed to raise $100 billion in revenue for the U.S. Treasury by clamping down on offshore tax cheats. But the cost of compliance has already been raising hackles around the world.
After three decades of talking to baby boomers about saving, the financial industry is now turning its attention to spending. It’s a matter of demographics. As more and more boomers reach retirement age, they’re increasingly tapping into the IRA and 401(k) assets that they’ve so carefully accumulated — and many of them are worried that those nest eggs won’t be sufficient to carry them through retirement.