RECENT QUESTIONS ABOUT MUTUAL FUNDSLATE TRADING PRACTICES, AS WELL ASBROADER ISSUES AFFECTING FUND DIRECTORS,TO BE ADDRESSED IN MUTUAL FUND CONFERENCE
Specific Areas Under Examination by SEC, the NYS Attorney
General and Other Agencies
Former SEC Chair Arthur Levitt Is Keynote Speaker
BARUCH COLLEGE, NEW YORK, NY - Mutual Fund Directors Forum and Baruch Colleges Center for Financial Integrity will jointly present a conference entitled Current Issues Impacting Fund Independent Directors: A Forum for Fund Directors, Lawyers, Accountants, and Other Fund Service Providers at Baruch College in New York City, on Monday, September 22, from 9:15 a.m. to 4:45 p.m. Conference moderators and panelists include leading professionals in the mutual fund regulation and governance fields.
In addition to the original schedule of discussions, a morning session has been added for review of the issues raised by recent questions from the Securities and Exchange Commission and legal actions by the New York State Attorney General, whose office filed a complaint last week aimed at curbing late trading and questionable market timing policies in mutual fund management. Mutual Fund Directors Forum chairman David Ruder, who was chairman of the SEC from 1987 to 1989, will lead that morning discussion.
Another former SEC chairman, Arthur Levitt, who has been an outspoken critic of lax oversight in the corporate and financial worlds, will be the keynote luncheon speaker.
Because the SEC and other enforcement agencies have focused on late trading, market timing and valuation policies, this is a discussion straight from the headlines, said Baruch president Ned Regan. For the first time, the spotlight of reform is falling on the mutual fund community and the community is responding. Directors of mutual funds play an important role in assuring that the markets are fair and investor confidence remains firm This conference will explore those responsibilities through the prism of recent troublesome events.
The conference will address a number of other critical issues for fund directors, relating to Sarbanes-Oxley, the proposed Baker bill, the SECs new requirement for disclosing proxy voting, the NASD sales load breakpoint study, and other developments in the financial services industry.
Seminar chair Robert W. Helm, a partner at Dechert LLP, where he heads the firms financial services practice group, said This is an excellent opportunity for independent directors, affiliated directors, fund managers, and fund service providers to gain a better understanding of the changes that will have a significant impact on their business and shift the financial services landscape for many years to come.
About the Presenters
Baruch Colleges Center for Financial Integrity is committed to helping restore investor and public confidence in the practices of American corporations. The Center sponsors conferences, seminars, and roundtable discussions on current issues in ethics and finance. Recent guests have included Harvey Goldschmid, SEC Commissioner; Bob Herz, FASB chairman; Charles Niemeier, PCAOB member; Hardwick Simmons, NASDAQ chairman; Jack Welch, former GE chairman and CEO; and Paul Volcker, former Federal Reserve chairman. The Center also encourages empirical research and writing on ethical issues among faculty and students in professional and academic publications.
The Mutual Fund Directors Forum is a nonprofit membership organization for investment company independent directors that is dedicated to improving mutual fund governance through continuing education programs and roundtable discussions for its members.
For more information, please contact The Center for Financial Integrity at 646-312-3231.
Director of Public Relations