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MME Live Broadcast Web Seminar: ETF Administration

September 10, 2010 / 12:00 Noon ET / Duration: One Hour

Proxy Reform Could Zero In on Fund Managers’ Voting Activities

Fund managers could end up finding out about corporate agendas far sooner and disclosing far more about their voting activities if some of the Securities and Exchange Commission’s proposed changes to the proxy system eventually become effective.

SEC to Discuss Proxy Reform on July 14

The Securities and Exchange Commission said on Wednesday that it will hold an open meeting on July 14 to consider whether to issue a concept release on proxy reform.

MMI Names New Chairman, Board Governors

Tracy praises board's 'vast experience and unique viewpoints.'

Fink: Restore Investor Self-Protection

Congress should repeal the SEC's 1992 blanket exemption for asset-backed pools and re-examine the appropriateness of the $5 million-$25 million tests in the 1996 exemption.

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Articles

SEC Votes to Propose Revamp of 12b-1 Fees

Long-contested issue finally meets the SEC impasse. But industry insiders say they're ready to fight.

Test of the Massey Mine

Fund giant boards of directors at AllianceBernstein, American Funds, Fidelity, Vanguard and others are reportedly starting to bring about meaningful change in the corporations in which they are invested. Proof should come any day now, when the shareholder proxy votes from the annual meetings are released. Fund chief executive officers spoke about the power and influence their proxies wield in an interesting Reuters article last week, "Mutual Funds Seek to Shed 'Rubber Stamp' Tag."

Robust Board Oversight Can Squelch Lawsuits

WASHINGTON -- A robust, well-documented oversight process by mutual fund boards can help to keep investor lawsuits at bay, but good documentation is not enough. Experts say boards must also stay on top of a wide range of developments in derivative exposure and potentially misleading advertisements, among other things. The recent, well-publicized Supreme Court decision Jones v. Harris Associates has reaffirmed the crucial role boards play in setting fund fees, and has heaped even more responsibility on directors.

Companies Brace for Active Proxy Season

This year's proxy season could be very turbulent for corporate boards of directors, thanks to increased shareholder activism and new rules that increase proxy disclosure. "Companies need to reach out and have good relations with their shareholders," said Amy Goodman, a partner and co-head of the securities regulation and corporate governance practice at Gibson, Dunn & Crutcher. "This is going to be a very difficult proxy season. Boards should be attuned to where potential problems may be."

403(b) Group Seeks Common Language

An industry group developing best practices for 403(b) retirement plans is coming closer to streamlining these plans to make them even more similar to 401(k) plans, but first they will have to get everyone to agree to speak the same language. Leaders say the SPARK Institute's work on 403(b) best practices is coming along smoothly, thanks to the cooperative efforts of approximately 50 participating institutions. The latest update, version 1.04, fixes many of these communication issues by requiring a standardized reporting format, which it hopes most institutions will adopt by this July.

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