With three SEC proposals released for comment and two more anticipated by 2020, fund boards face increased responsibilities in the coming years, stated investment management partner David Sullivan in the Dec. 15 edition of BoardIQ. Mr. Sullivan outlined that although board duties have significantly increased in the last decade, cumulative rule proposals imposed by the SEC will add to these, as mutual funds face a much altered regulatory environment. Mr. Sullivan notes that one consideration is whether Trustees are being asked to take on responsibilities that go beyond what should reasonably be expected of them in terms of expertise.
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