IM Director Blass gives updates on board outreach, ETF, and index fund issues

By Lene Powell, J.D. Division of Investment Management staff is “firing on all cylinders” on many projects including engaging with boards of directors and developing new valuation guidance, working to get an ETF rule on the books, and refining the division’s market surveillance tool (“MAGIC”) to add machine learning capabilities, IM Director Dalia Blass said in remarks to the ICI 2018 Mutual Funds and Investment Management Conference. The Division is also looking at index fund issues, including whether some custom index providers may be straying from the publisher’s exclusion from the need to register as an investment adviser. Board outreach. Blass reported that in its “Board Outreach Initiative,” a Division team has been meeting with fund boards, independent directors, counsel to funds and independent directors, and independent auditors to understand board responsibilities and ask if the SEC can do anything to help fund boards…

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