Thursday, November 8, 2007
Andrew J. Donohue, Director, Division of Investment Management, SEC, gave the Keynote Address at the Investment Company Directors Conference in Washington, D.C. on November 6, 2007. Topics included fair valuation of portfolio holdings, 12b-1 fees, and soft dollars. He also described his Director Outreach Initiative, in which he has been meeting with fund boards and asking them how the SEC can assist fund directors in performing their jobs.
A recent study, meanwhile, reports that fund directors are not having fun and feel underappreciated. Two-thirds of fund-board directors report that the job is tougher than a few years ago and 44% says the burdens outweigh the compensation. WSJ, Directors Feel Burden of New Regulations.