Fixed-income funds, such as bond mutual funds, generally invest in investments that pay a return on a fixed schedule, though the amount of the payments can vary. Boards oversee these funds under the same regulatory regime as other funds.
The U.S. Securities and Exchange Commission’s examination office included liquidity controls as part of its 2016 examination priorities, stating that the staff will examine advisers to mutual funds, exchange-traded funds, and private funds that have exposure to potentially illiquid fixed income securities.
FAQs and Resource Centers
IDC Webinar: Deeper Dive: Derivatives – Session 2: Fund Operations and Regulatory Considerations
IDC Webinar: Deeper Dive: Derivatives – Session 1: Implementing Investment Strategies
Audit Committee Chairs, February 27
IDC’s memos inform directors about important regulatory, legislative, and judicial developments. IDC also comments on proposals that could affect board responsibilities or shareholder interests. See below for recent comment letters and memos on selected topics.