Phase III: Capstone

Session Description

Mutual Funds

Instructor Grady provides participants with an overview of mutual fund regulation, specifically:

 

• Principal Investment Company Act provisions and areas of coverage
• Regulation and oversight of the fund industry, including:
  • SEC regulation of funds and their boards and advisers
  • FINRA regulation of distributors and the sales process
  • IRS regulation of tax flow-through principles
  • Department of Labor regulations applicable to ownership of fund shares by pension plans, defined benefit plans, 401k plans, IRAs and other vehicles
  • Possible changes in regulatory agencies and their jurisdictions
• Current issues impacting the industry, including valuation issues, fee litigation, compliance concerns and developments impacting exchange-traded funds (ETFs) and "absolute return" funds

 

After completing this session, you will be able to:

 

• Compare and contrast the "market value" and "fair value" of fund assets
• Discuss what "breaking the buck" by money market funds means, as well as analyze federal insurance programs and proposed changes in regulation
• Describe fiduciary principles applicable to fund directors
• Identify responsibilities accorded to fund companies' chief compliance officers
• Explain new developments affecting ETFs and closed-end funds

 

Instructor:
John Grady, President, Arcady Investment Consulting