In a March 7 article published by Fund Board Views titled “Fund Boards, Industry Welcome In-Person Voting Relief,” asset management partner Paulita Pike discusses the no-action letter issued by the SEC’s Division of Investment Management to relieve mutual fund directors from in-person voting requirements under certain circumstances.
"This no-action letter reflects the continued thoughtfulness of the SEC around topics that specifically affect independent directors. The letter also recognizes that relaxation of important standards for oversight, simply for the sake of relaxation, is not necessarily prudent. The fact that the SEC’s letter is premised on the limitation submitted by the IDC in its original letter reflects this fact," Ms. Pike states in the article.
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