The final best practices reports of the Asset Managers’ and Investors’ Committees to the President’s Working Group on Financial Markets (the “Reports”) were released on Jan. 16, 2009. The Reports provide a comprehensive set of best practices for asset managers and investors that are designed to answer the call of the President’s Working Group on Financial Markets (“PWG”) to reduce systemic risk and foster investor protection. Drafts of the Reports were released for comment from industry participants and other interested constituencies on April 15, 2008. The final versions highlight the tremendous stresses global markets have experienced and the increasing importance of promoting best practices in the industry. In an upcoming Alert, we will discuss the Reports in greater detail, including the significant changes between the draft and final versions, and the best practices in the Investors’ Report that are most likely to affect fund managers.
The press release from the U.S. Department of the Treasury announcing the release of the final
Reports is available at http://www.treasury.gov/press/releases/hp1361.htm.
The Asset Managers' Committee Report is available at http://www.amaicmte.org/Asset.aspx.
The Investors’ Committee Report is available at http://www.amaicmte.org/Investor.aspx.