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Ryan Brizek Quoted in BoardIQ on SEC Staff Reviews of Significant Changes to Registered Fund Investment Strategies
11.18.20
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Counsel Ryan Brizek was quoted in a BoardIQ article titled, “Boards Face SEC Scrutiny Over Big Fund Strategy Switches.” The article analyzed how SEC disclosure examiners are posing pointed questions to registered funds that plan to significantly change their investment strategies, asking them to explain directors’ deliberations and how boards determined that the changes were in the best interests of shareholders, as well as if they considered all other options. Ryan noted that repurposing funds is not something new. He further explained that the SEC staff’s questions are not “necessarily an indication that something’s gone wrong” in the SEC staff’s view. He speculated that agency staff likely wants to ensure that decisions about repurposing a registered fund follow a thorough process.
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