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Director of SEC’s Division of Investment Management discusses alternative mutual funds

Richard F. Kerr (Counsel based at Goodwin Procter LLP, Boston, Massachusetts, USA)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 28 October 2014

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Abstract

Purpose

To alert participants in the mutual fund industry to regulatory developments in the alternative mutual fund space as articulated by the SEC’s Director of the Division of Investment Management.

Design/methodology/approach

Reviews the Director’s discussion of the SEC’s concerns related to Valuation, Liquidity, Leverage and Disclosure resulting from the proliferation of alternative mutual funds. Additionally, summarizes the Director’s comments regarding Board oversight of alternative mutual funds.

Findings

While the Director’s speech does not establish any new law or regulation, it is a practical summary of the SEC’s expectations for mutual fund complexes when implementing and operating mutual funds with alternative investment strategies that have historically been the province of private funds.

Originality/value

Practical explanation from experienced financial institutions lawyers.

Keywords

Acknowledgements

© 2014 Goodwin Procter LLP

This article, which may be considered advertising under the ethical rules of certain jurisdictions, is provided with the understanding that it does not constitute the rendering of legal advice or other professional advice by Goodwin Procter LLP or its attorneys.

Citation

F. Kerr, R. (2014), "Director of SEC’s Division of Investment Management discusses alternative mutual funds", Journal of Investment Compliance, Vol. 15 No. 4, pp. 15-18. https://doi.org/10.1108/JOIC-09-2014-0044

Publisher

:

Emerald Group Publishing Limited

Copyright © 2014, Authors