BoardIQ reports on the SEC’s March 4 announcement on Fund Board Meetings and Unforeseen or Emergency Circumstances Related to Coronavirus Disease 2019 (COVID-19). The March 10 article titled “SEC Expands In-Person Voting Exceptions for Coronavirus” includes insights from asset management partner Paulita Pike.
“Anytime there’s stress on the system, there are a few things that are critical,” says Paulita in the piece. Boards will want to know about funds’ liquidity, and because of the liquidity risk management rule, directors can expect to get lots of reporting on the topic. They also should ask about how valuation procedures are holding up and management’s plans to handle large redemptions, Paulita advises.
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