Are state-chartered trust companies "banks" that can custody digital assets for investment advisers and funds? In this episode of Mutual Fund Minute, Sidley Investment Funds partner Chuck Daly and host Jay Baris examine SEC staff guidance interpreting the definition of a "bank" in the Investment Advisers Act and the Investment Company Act. Tune in to find out what the guidance means for registered advisers and investment companies that hold digital assets, and why it matters.

In this episode of Mutual Fund Minute, Sidley Investment Funds partner Matthew Kutner joins host Jay Baris to tell you what you need to know about regulatory developments that will allow mutual funds to issue ETF share classes. Matt and Jay explore what ETF share classes are, how they work, potential risks for investment advisers and fund directors, how ETF share classes could transform fund investing, and more.

In this episode of Mutual Fund Minute, Leonard Ng, head of the firm’s UK/EU Financial Services Regulatory group, joins host Jay Baris to discuss developments in asset management in the UK and EU. Jay and Leonard discuss how the UK’s Financial Conduct Authority hopes to make the UK more competitive with the EU in the post-Brexit environment.

In this episode of Mutual Fund Minute, Nathan Greene, Sidley partner and leading regulatory lawyer , joins host Jay Baris to discuss how the Securities and Exchange Commission eased restrictions on co-investments involving closed-end funds and business development companies (BDCs). Jay and Nathan discuss how the SEC’s action changes the regulatory landscape for these funds by providing more flexibility and less burdensome oversight by fund directors. 

In this episode of Mutual Fund Minute, Paul Cellupica, the General Counsel of the Investment Company Institute, and host Jay Baris continue to analyze the ICI’s proposals to revisit the Investment Company Act of 1940.  They discuss the “retailization” phenomenon, revising the annual shareholder meeting requirement for closed-end funds, easing restrictions on co-investments among affiliated funds, and ways to address the growing popularity of interval funds.

In this episode of Mutual Fund Minute,  Paul Cellupica, the General Counsel of the Investment Company Institute, joins Sidley’s Jay Baris to discuss the ICI’s proposals to modernize the Investment Company Act of 1940.  The ICI’s report, called “Reimagining the 1940 Act: Key Recommendations for Innovation and Investor Protection,” outlines specific proposals to modernize regulations governing mutual funds, ETFs and other registered funds.  Paul and Jay discuss the proposals and what they would mean for investment companies, independent fund directors and investment advisers.  

This week on Mutual Fund Minute, Sidley partner Jay Baris continues his conversation with William Long, the global co-chair of Sidley’s Privacy and Cybersecurity practice who also heads Sidley’s EU Data Protection group. Together, they discuss the application of AI and related risks involving investment managers arising out of the EU’s AI Act. 

This episode is part of an ongoing Mutual Fund Minute series focused on cybersecurity and AI.

This week on Mutual Fund Minute, Sidley partner Jay Baris talks with William Long,  the global co-chair of Sidley’s Privacy and Cybersecurity practice who also heads Sidley’s EU Data Protection group. William summarizes the world’s first artificial intelligence adopted by the European Union and its implications in Europe and the U.S. 

This episode is part of an ongoing Mutual Fund Minute series focused on cybersecurity and AI.

This week on Mutual Fund Minute, Sidley partner Jay Baris and Carolyn McPhillips, President at the Mutual Fund Directors Forum, continue celebrating the 100th anniversary of the American mutual fund. Carolyn shares her views on the oversight by fund directors, the SEC’s proposed mandatory swing pricing rule, issues relating to fund chief compliance officers, and the role that artificial intelligence plays in asset management.

This week on Mutual Fund Minute, Carolyn McPhillips, President at the Mutual Fund Directors Forum, joins Sidley partner Jay Baris to celebrate the 100th anniversary of the American mutual fund.