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Fund Directions Quotes Investment Management Partner George Raine on Preparation for Electronic Shareholder Reports

Practices: Fund Boards of Directors / Trustees, Investment Management Compliance

An Aug. 17 piece published by Fund Directions titled “The path to digital: Boards prep for e-delivery discussions,” reports that the SEC’s newly adopted Rule 30e-3 gives mutual funds the freedom to make electronic shareholder reports their default delivery option by January 2021, but they must give shareholders a two-year notice if they plan to do so. An article published by Fund Directions, also appearing in Compliance Reporter, includes remarks from investment management partner George Raine. As the January 2019 deadline to begin the notice period approaches, “The initial phase starting in the new year doesn’t begin the actual nuts and bolts of implementation,” Mr. Raine states in the piece. “There will be a certain amount of deference to advisers to figure out the mechanics of it and inform the board.”

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