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Results: 1-10 of 46

Court dismisses in part a mutual fund excessive fee action against SEI
  • Reed Smith LLP
  • USA
  • July 17 2015

Over the past few years, we’ve seen a resurgence in the number of shareholder suits against mutual fund investment advisers for excessive fees under


Attention mutual funds--potential relief for CPO and CTA regulation in the 2014 CFTC Reauthorization Act
  • Reed Smith LLP
  • USA
  • August 29 2014

As the second part of our ongoing series on the 2014 CFTC Reauthorization Act, we wanted to highlight what could become important relief for mutual


Fair valuation and mutual fund directors: new guidance from the SEC
  • Reed Smith LLP
  • USA
  • August 29 2014

In policy arguments, as in comedy, timing is everything. The SEC stole my punch line when it recently issued new guidance on the use of pricing


Fair valuation and mutual fund directors: the great valuation divide and its implications
  • Reed Smith LLP
  • USA
  • July 18 2014

The 1940 Act's requirements for valuing portfolio securities may be summarized as follows: the Board of Directors must determine, in good faith, the


Fair valuation and mutual fund directors: history of enforcement actions against independent directors
  • Reed Smith LLP
  • USA
  • June 4 2014

At the ICI 2014 Mutual Funds and Investment Management Conference, the staff of the Division of Investment Management announced that it would not


CFTC grants time-limited relief from SEF trading mandate for "Package Transactions"
  • Reed Smith LLP
  • USA
  • February 11 2014

On February 10th, the CFTC granted time-limited no-action relief for so-called "Package Transactions". The relief expires at 11:59 p.m. (eastern


CFTC’s final 'harmonization' rules: shifting sands in the ETF competitive landscape
  • Reed Smith LLP
  • USA
  • August 20 2013

The Commodity Futures Trading Commission (CFTC) caused quite a stir in 2012 when it changed its rules to require investment advisers to mutual funds


DOL to re-propose rule on definition of fiduciary
  • Reed Smith LLP
  • USA
  • October 21 2011

The Department of Labor has announced its intention to re-propose its rule that would have broadened the definition of a "fiduciary" under the Employee Retirement Income Security Act of 1974


DOL proposes rule broadening the definition of 'fiduciary' under ERISA
  • Reed Smith LLP
  • USA
  • December 1 2010

The Department of Labor ("DOL") has issued proposed regulations that would more broadly define the circumstances under which a person is considered a "fiduciary" under the Employee Retirement Income Security Act of 1974 ("ERISA") by reason of giving investment advice


U.S. Supreme Court holds that Gartenberg is the standard to assess whether a mutual fund adviser has violated Section 36(b) of the Investment Company Act of 1940
  • Reed Smith LLP
  • USA
  • April 12 2010

On March 30, 2010, the United States Supreme Court decided Jones v. Harris Associates, L.P., No. 08-586, 556 U.S. ___ (2010), addressing the appropriate legal standard for assessing claims against mutual fund investment advisers and their affiliates under Section 36(b) of the Investment Company Act of 1940 ("Section 36(b)"