SEC Not Keen on Recovering Waived Fees After a Merger
January 14, 2020
Domenick Pugliese was quoted in the article "SEC Not Keen on Recovering Waived Fees After a Merger," which was published by BoardIQ [sub. req.] on January 14, 2020.
The article discusses the unlikelihood of a board to recoup costs when funds with fee waivers or expense reimbursements merge into other products. According to Dom, “they [SEC] ask every time you file one of these merger proxies.” He goes on to say, “if the request is made to the board, the board needs to be convinced there is a benefit to the surviving fund’s shareholders.”