Mr. Champ said that he believes some of the most important meetings will occur with fund directors, and he listed various issues that the Division staff hope to discuss with fund directors, including whether fund directors are overextended and asked to oversee too many funds, and whether fund directors are equipped to ask tough questions and make difficult calls. Mr. Champ noted that an important goal should be to maximize the value of fund boards for investors.
In his speech, Mr. Champ highlighted that the Division has added to its own financial services expertise through staff hires, which include a former risk officer and a money market fund portfolio manager.
Mr. Champ remarked that the staff is looking to obtain helpful public input on regulatory initiatives, particularly relating to the mutual fund valuation process. Also, he noted that the staff is beginning an initiative to streamline fund reporting forms, making them more useful for regulators and investors.
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