Still No. Bid to Let Directors Own Subadvisors Falls Short Again
Nicole Crum was quoted in the article, "Still No. Bid to Let Directors Own Subadvisors Falls Short Again," which was published by BoardIQ [sub. req.] on August 10, 2021.
In the article, Nicole notes that the SEC's continued reluctance to carve out an exception on this issue is unsurprising, saying "[t]he independence standard is as close to a sacred thing as we have in mutual fund governance." She adds that while a formula for limited ownership would have to make everyone comfortable, "I just don't know what the right number is, and reasonable people could disagree on that number."