BoardIQ Quotes Asset Management Partner Paulita Pike on Fair Valuation Guidance
BoardIQ reports that the SEC has adopted its first guidance on fair valuation practices in more than 50 years this month, clarifying how boards should satisfy their oversight duties under the ’40 Act given the market’s evolution. Insights from asset management partner Paulita Pike are included in the piece, published on Dec. 15 titled “SEC Issues First Fair Valuation Rule in Half a Century.”
That language differs from the proposing release, which said the board could “assign” the task to an assignee, notes Paulita. The commission swapped the words because commenters noted that “assign” does not appear in other ’40 Act rules. How substantive that change is remains unclear, Paulita says.