Paulita A. Pike
Partner
Paulita Pike is a partner in the asset management group. Paulita represents mutual funds or their boards as well as investment advisers and fund service providers throughout the country. She advises her clients on a broad range of issues including:
- Governance structures and practices;
- Compliance issues;
- D&O/E&O matters;
- Committee structures and functions, communications with the press, self-evaluations and industry “best practices;”
- Fund service provider contracts and filings with the Securities and Exchange Commission;
- Fund mergers and “manager-of-managers” arrangements;
- Regulatory investigations and inquiries;
- Matters arising from the Investment Company Act of 1940 and the Investment Advisers Act of 1940; and
- Advising mutual fund managers, investment advisers and fund boards on cybersecurity issues and best practices for data protection.
Paulita is an Adjunct Professor at Notre Dame Law School and Northwestern Pritzker School of Law, where she teaches courses, along with Paul Dykstra, on mutual fund regulation.
Publications
- Quoted, “Board oversight of valuation tested by coronavirus-driven market turmoil,” Fund Directions (April 3, 2020)
- Quoted, “SEC issues interfund lending relief,” Fund Board Views (March 31, 2020)
- Quoted, “SEC Expands In-Person Voting Exceptions for Coronavirus,” BoardIQ (March 10, 2020)
- Featured, “Getting your ESG overnight right,” Fund Directions (January 30, 2020)
- Quoted, “ICI’s CEO to Retire at Year End; Search for Successor Under Way,” Ignites (January 28, 2020)
- Quoted, “SEC on Board Oversight,” BoardIQ (December 31, 2019)
- Quoted, “OCIE flags 15(c) deficiencies; should spur boards to ‘gut check’,” Fund Board Views (November 22, 2019)
- Featured, “Dissecting the SEC’s Recent Guidance on Investment Adviser Proxy Voting Responsibilities,” The Hedge Fund Law Report (October 24, 2019)
- Quoted, “PwC Case Gives Boards, Auditors Something to Talk About,” BoardIQ (October 8, 2019)
- Quoted, “Invesco files for its own nontransparent ETF structure,” Fund Action (September 25, 2019)
- Quoted, “SEC Lays Out How to Use Proxy Advisors, Protect Fiduciary Role,” Ignites (August 22, 2019)
- Quoted, “SEC on Board Oversight: ‘We’ll Beat This One to Death’,” BoardIQ (July 16, 2019)
- Featured, “Shops Reassess Who 'Owns' Cyber Security,” Ignites (July 3, 2019)
- Featured, “How Shops Handle the 'Rabbit Hole' of Third-Party Cyber Risks,” Ignites (May 28, 2019)
- Quoted, “Shops Face Bigger Regulatory Burdens on Leaner Budgets,” Ignites (May 6, 2019)
- Quoted, “What fund leaders need to know about the SEC's new cyber sweep,” Compliance Reporter (May 1, 2019)
- Featured, “Pinpointing Potential SEC Proxy-Voting Reforms,” Ignites (May 1, 2019)
- Quoted, “Do fund directors need board-dedicated email, devices?,” Fund Board Views (April 10, 2019)
- Quoted, “Mutual fund boards have opportunity to redefine their CCO relationship,” Fund Directions (March 25, 2019)
- Quoted, “Fund boards, industry welcome in-person voting relief,” Fund Board Views (March 7, 2019)
- Quoted, “How fund boards are grappling with liquidity rule oversight,” Fund Directions (February 28, 2019)
- Quoted, “SEC modifies Form N-PORT filings due to cybersecurity concerns,” Compliance Reporter (February 28, 2019)
- Quoted, “SEC charges hackers for 2016 breach of auto-filing system,” Thomson Reuters Regulatory Intelligence (January 17, 2019)
- Quoted, “SEC considers nixing controversial FoFs disclosure | SEC halts admin proceedings | New regulator data leak,” Compliance Reporter (January 17, 2019)
- Quoted, “SEC's Response To Breach Scare Clarifies Wider Approach,” Law360 (January 16, 2019)
- Quoted, “SEC charges Ukrainian hacker in EDGAR breach,” Compliance Reporter (January 16, 2019)
- Quoted, “Funds Bracing for SEC Delays as Government Reopens,” BoardIQ (January 29, 2019)
- Quoted, “Index funds: Has Bogle IDed solution in search of problem?,” Fund Board Views (December 14, 2018)
- Quoted, “Fund governance pros heartened by SEC no-action letter,” Fund Board Views (October 19, 2018)
- Quoted, “Vendors Still Weak Link in Cyber-Security Programs,” BoardIQ (October 9, 2018)
- Quoted, “Special Issue: Boards, Cyber Threats and Tech Advances,” BoardIQ (October 9, 2018)
- Quoted, “Subadvisors, Sponsors At Work Hashing Out Liquidity Programs,” Ignites (September 10, 2018)
- Quoted, “GDPR, Calif. regs complicate regional comms, blockchain development,” Fund Operations (August 23, 2018)
- Quoted, “Fidelity’s New No-Fee Funds Bring All Fees Into Sharp Focus,” BoardIQ (August 14, 2018)
- Quoted, “Governance pros applaud SEC's paperless rule,” Fund Board Views (June 5, 2018)
- Co-author, “Increased Enforcement Activity Underscores Need for Firms to Conduct Rigorous Cybersecurity Oversight,” Wolters Kluwer’s Securities Regulation Daily (May 24, 2018)
- Quoted, “Dissecting the SEC’s standard of conduct,” Fund Directions (April 27, 2018)
- Author, “Op-Ed: The Must Know of D&O,” Fund Board Views (April 26, 2018)
- Quoted, “Next steps: Liquidity rule delay shakes up compliance plans,” Fund Directions (February 23, 2018)
- Quoted, “Cues for fund directors in OCIE 2018 exam priorities,” Funds Board Reviews (February 8, 2018)
- Quoted, “Fee Pressure From Boards Seeping Down to Subadvisers,” BoardIQ (January 30, 2018)
- Quoted, “Despite Guidance, Liquidity Rule Questions Linger for Multi-Managed Funds,” Ignites (January 25, 2018)
- Quoted, “SEC Spotlights Subadvisors, ETFs in Liquidity Rule FAQs,” Ignites (January 12, 2018)
- Quoted, “Board Self-Assessments Back on SEC Exam Request List,” BoardIQ (November 7, 2017)
- Quoted, “Treasury Sides With Industry in Opposing Liquidity Rule,” BoardIQ (November 7, 2017)
- Quoted, “Industry on edge: EDGAR Breach,” Fund Operations (October 4, 2017)
- Quoted, “EDGAR breach has managers questioning SEC’s own protections,” Pensions & Investments (September 28, 2017)
- Quoted, “Clayton addresses cyber concerns in Senate testimony,” Fund Action (September 27, 2017)
- Quoted, “SEC data breach reveals fear and loathing in the mainframe,” Compliance Week (September 26, 2017)
- Quoted, “A Cyber Rule for Banks Offers Best Practices for All,” BoardIQ (September 26, 2017)
- Quoted, “SEC hack leaves industry asking tough questions,” Compliance Reporter (September 25, 2017)
- Quoted, “SEC Data Breach Gives Industry Ammo for Rule Delays,” Ignites (September 22, 2017)
- Quoted, “Surprise Exams Are Back, and Boards Prepare With CCO,” BoardIQ (September 12, 2017)
- Quoted, “BlackRock Board Blinks in Bid to Get Proxy Proposal Passed,” BoardIQ (August 15, 2017)
- Quoted, “Now is time to get busy with liquidity risk management rule,” Fund Board Views (April 12, 2017)
- Quoted, “Funds Face New Intermediary Tussle Over Fee Index,” BoardIQ (March 28, 2017)
- Quoted, “Morningstar scraps Stewardship Grades,” Fund Board Views (February 3, 2017)
- Quoted, “Dykstra retires after decades of fund governance work,” Fund Board Views (January 31, 2017)
- Quoted, “In Liquidity Rule, an Investment Decision for Directors,” BoardIQ (December 13, 2016)
- Quoted, “Auditor independence: What boards are doing now,” Fund Directions (November 15, 2016)
- Quoted, “Independent Director Helps Axa Win Excessive Fee Trial,” Ignites (September 6, 2016)
- Author, “Op-Ed: Grading Morningstar's Stewardship Grades,” Fund Board Views (August 10, 2016)
- Quoted, “New 38a-1 Policies Giving Boards Overall View of Intermediaries,” BoardIQ (May 31, 2016)
- Co-author, “Fund Governance: A Successful, Evolving Model,” Virginia Law & Business Review (Volume 10, Spring 2016, Number 3)
- Quoted, “Claims Monitoring Deal With Affiliate Requires Board Focus,” BoardIQ (May 3, 2016)
- Cited, “All the world’s a gala table,” Crain’s Chicago Business (April 7, 2016)
- Quoted, “Credit Lines Hard to Come By as Bank Rules Tighten,” BoardIQ (January 26, 2016)
- Co-author “Fund Director's Guidebook,” American Bar Association (2015)
- Quoted, “Commission Smacks Virtus for Repeating F-Squared’s Lies,” BoardIQ (December 1, 2015)
- Quoted, “How Just One Share of Stock Can Ruin a Director’s Day,” BoardIQ (April 21, 2015)
- Quoted, “'Distribution in Guise' Enforcement Actions in Works: SEC,” Ignites (March 5, 2015)
- Quoted, “SEC’s New Attitude a Chief Concern for Directors in 2015,” BoardIQ (December 16, 2014)
- Quoted, “Transfer Agent Fees Down Slightly, Some See More to Come,” BoardIQ (November 4, 2014)
- Quoted, “Where to Find ‘Current Sale’? In the Eye of the Beholder,” BoardIQ (September 9, 2014)
- Quoted, “New Duties for Directors After Money Fund Reform Vote,” BoardIQ (July 29, 2014 )
- Quoted, “Cheaper Fund Subadvisers Can Save Money, but for Whom?” BoardIQ (June 17, 2014)
- Profiled, “Women, Influence and Power in Law: Paulita Pike,” Inside Counsel (May 20, 2014)
- Quoted, “In Its Sweep of Alt Funds, SEC Will Target Board Oversight,” BoardIQ (March 25, 2014)
- Quoted, “London Calling: Directors, Won’t You Pick Up the Line?” BoardIQ (February 25, 2014)
- Co-author, “Supreme Court Upholds Gartenberg Standard in Jones v. Harris,” Journal of Investment Compliance, Volume 11 Issue 2 (2010)
- Co-author “The Yacktman Battle: Manager Bites Watchdogs,” The Investment Lawyer (1998)
Presentations
Ms. Pike is a frequent speaker at industry conferences, including those sponsored by the Investment Company Institute, the Independent Directors' Council and the Mutual Fund Directors Forum.
- Speaker, “Webinar: Current Board Priorities: Valuation Rule and COVID-19 Considerations,” Mutual Fund Directors Forum (May 5, 2020)
- Speaker, “Navigating the New ESG Landscape: How US and EU Policy Developments Affect Fund Managers,” Investment Company Institute (ICI) (October 23, 2019)
- Speaker, “Insurance for Funds and Fund Directors: Part 1,” Independent Directors Council (January 22, 2019)
- Moderator, “Liquidity Risk Management,” Mutual Fund Directors Forum, 2018 Policy Conference (March 27, 2018)
- Speaker, “The Regulatory Environment,” and “Client Experience Panel Discussion,” Northern Trust Distribution Summit (April 26, 2017)
- Speaker, “Reporting Results,” Mutual Fund Directors Forum, 2017 Directors’ Institute (January 19, 2017)
- Moderator, “Management Presentation to the First Lights Fund Board,” Mutual Fund Directors Forum, 2017 Directors’ Institute (January 18, 2017)
- Panelist, “Regulation, Litigation, and Enforcement: The Current Landscape,” The Independent Director’s Council’s 2016 Fund Directors Conference (October 26, 2016)
- Speaker, “Webinar on SEC Staff Guidance on Mutual Fund Distribution and Subaccounting Fees: A Summary and Discussion for Fund Directors,” Independent Directors Council (February 18, 2016)
- Moderator, “Management Presentation to the First Lights Fund Board,” Mutual Fund Directors Forum (January 27, 2016)
- Moderator, “Management Response to Consultant Report,” Mutual Fund Directors Forum (January 27, 2016)
- Presenter, “Working with Management,” Mutual Fund Directors Forum (January 28, 2016)
- Panelist, “Looking over the Shoulders of Distributors: Intermediary Oversight in Today’s Distribution Environment,” ICI’s 2015 Mutual Fund Compliance Programs Conference (May 7, 2015)
- Panelist, “Panel II: Larger Lessons from Fund Governance” 2015 Virginia Law & Business Review and the ICI Symposium: The 1940 Acts at 75 (April 10, 2015)
- Panelist, “SEC and Other Developments: What Directors Should Know,” ICI’s 2014 Fund Directors Conference (November 4, 2014)
- Panelist, “Session 2-A: Current Topics for Fund Boards: Independent Counsel Roundtable,” ICI’s 2014 Mutual Funds and Investment Management Conference (March 17, 2014)
- Panelist, “Right Funds, Wrong Time: Ratings, Flows, and Distribution,” Mutual Fund Directors Forum’s Board Oversight of Performance Conference (October 9, 2013)
Education
- JD, University of Notre Dame Law School
- BA, University of Notre Dame
