It’s been more than 40 years since policymakers have holistically reviewed the regulatory framework for the Investment Company Act of 1940 (’40 Act).
As part of a multi-year project led by the Investment Company Institute, industry participants and three law firms on the steering committee, including Stradley Ronon, have been laying the groundwork to provide well-founded, pragmatic suggestions to the new SEC administration on ways to modernize the ’40 Act.
At this year’s Investment Management Conference, the ICI presented its key recommendations during a panel discussion featuring Stradley Ronon partner Bruce Leto, who contributed to the ICI’s review and is a member of the steering committee.
In an interview with BoardIQ, Bruce talked with the publication about proposed measures designed to allow fund boards greater flexibility and independence.
Read Bruce’s comments (subscription required).