Litigation and Enforcement
Funds, fund advisers, and fund directors may at times be involved in private civil litigation matters, as well as enforcement actions brought by the U.S. Securities and Exchange Commission and other regulatory agencies. Most civil litigation cases are “excessive fee” cases, where the plaintiffs allege that the adviser breached its fiduciary duty under Section 36(b) of the Investment Company Act of 1940; disclosure-related cases; or state-law based actions. In some cases, fund directors may be named as defendants, and in others, they may be third-party witnesses.
FAQs and Resource Centers
Publications
Webinars
Third Party Resources
Below are links to additional resources created, published, and maintained by other organizations. They are merely a sample of additional resources for fund directors. IDC does not control, cannot guarantee, and is not responsible for their accuracy, timeliness, or continued availability. These links are provided solely as a service to fund directors and should not be construed as indicating in any way that IDC endorses either the content provided or the third-party providers of any such content.
ICI Mutual: Risk Management Studies
ICI Mutual: Claims Trends Newsletter
ICI Mutual: Trends in Fee Litigation: Actions Brought under Section 36(b) and ERISA (2014) (pdf)
ICI Mutual: Independent Director Litigation Risk: A Practical Guide (pdf)
Litigation
2024 Investment Company Fact Book (pdf)
2024 Investment Management Conference Photos
ICI and Denver Area 1940 Act Group Networking Event Photos
2024 ICI Fact Book: Essential Resource on Fund Flows and Trends in the Industry
Washingtion, DC
Compliance Oversight Peer Group, June 12
The Closed-End Fund Market, 2023 (pdf)
Closed-End Fund Activism Surges, Shows Need for Congressional Action
SEC Enforcement Cases
2024 Investment Company Fact Book (pdf)
2024 Investment Management Conference Photos
ICI and Denver Area 1940 Act Group Networking Event Photos
2024 ICI Fact Book: Essential Resource on Fund Flows and Trends in the Industry
Washingtion, DC
Compliance Oversight Peer Group, June 12
The Closed-End Fund Market, 2023 (pdf)
Closed-End Fund Activism Surges, Shows Need for Congressional Action
Foundations for Fund Directors Program
Release: 529 Plan Program Statistics, December 2023
SEC Enforcement Cases (Cont'd)
2024 Investment Company Fact Book (pdf)
2024 Investment Management Conference Photos
ICI and Denver Area 1940 Act Group Networking Event Photos
2024 ICI Fact Book: Essential Resource on Fund Flows and Trends in the Industry
Washingtion, DC