Asset Management Partner Elizabeth Reza Discusses SEC Valuation Guidance For Fund Directors in BoardIQ

As the SEC works on modernizing valuation guidance for fund directors, some in the industry are pushing for the inclusion of greater insight into what the ’40 Act means when it says boards must determine fair values “in good faith.” An article published by BoardIQ on April 9 titled “‘Happier Directors’ If SEC Says More About Good Faith” includes remarks from asset management partner Elizabeth Reza. “The most confusing thing about current valuation guidance is determining whether boards have done enough,” Ms. Reza states. “Boards have fairly good processes for fair valuation, she says, and it would be helpful to get a confirmation from the SEC that those practices are adequate.”