Fund Governance: Legal Duties of Investment Company Directors

Front Cover
Law Journal Press, 2001 - Law
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Fund Governance: Legal Duties of Investment Company Directors is a comprehensive, authoritative and practical treatment of the legal obligations of mutual fund and closed-end fund directors, the special duties of independent directors, and fund governance best practices.

This treatise provides detailed coverage of a fund board's legal duties under the federal securities laws and state corporate and trust law. It examines the impact of statutes and regulations, SEC guidance, court cases, and best practices in the context of fiduciary duty requirements, board structure and operations, audit committees, advisory and distribution arrangements, affiliated transactions, and other aspects of fund management. It also addresses the special requirements for closed-end fund and money market fund directors, as well as director indemnification and insurance issues. Filled with insight, and featuring more than 30 forms and charts, Fund Governance: Legal Duties of Investment Company Directors looks closely at challenging questions that often arise.
 
 

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Contents

CHAPTER 3
3-2
Chapter Contents
3-3
CHAPTER 12
3-34
CHAPTER 4
4-1
CHAPTER 5
5-1
iii Endorsements 561
5-91
CHAPTER 6
6-1
CHAPTER 7
6-91
CHAPTER 10
10-1
CHAPTER 11
11-1
c Portfolio Diversification
11-22
Special Duties of ClosedEnd Fund Directors
12-1
f Insurer Notified 561
A-5
ii Auditor Independence 914
A-9
APPENDIX A
A-19
APPENDIX B
A-45

b Lead Independent Director 415
7-4
CHAPTER 8
8-1
CHAPTER 9
8-29

Common terms and phrases

About the author (2001)

Robert A. Robertson is a partner with the Financial Services Practice Group of Dechert LLP, an international law firm. He regularly counsels investment advisers, mutual funds, closed-end funds, fund boards of directors, private funds and institutional investors. Mr. Robertson is Chair of the American Bar Association's Subcommittee on Investment Companies and Investment Advisers. He is also an Advisory Board Member of the Mutual Fund Directors Forum. He served as an attorney with the Securities and Exchange Commission from 1990 through 1997, where his most recent position was counselor to Commissioner Isaac C. Hunt, Jr. Mr. Robertson is a frequent lecturer and has written numerous articles on securities law topics. His articles have appeared in such publications as the Business Lawyer, the Investment Lawyer, the Stanford Journal of Law, Business & Finance, the Review of Securities & Commodities Regulation, The National Law Journal, and the Washington Post. Mr. Robertson is a graduate of Claremont McKenna College (B.A.), Loyola Marymount University (M.B.A.), and UCLA Law School (J.D.).

Bibliographic information