Research Handbook on the Regulation of Mutual Funds
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Research Handbook on the Regulation of Mutual Funds

Edited by William A. Birdthistle and John Morley

The growth of mutual funds has been a truly global phenomenon and deserves a broad international analysis. Local political economies and legal regimes have created different regulatory preferences for the oversight of these funds, and academics, public officials, and legal practitioners wishing to understand the global investing environment need an appreciation for these international differences. This Handbook addresses these and several other issues concerning mutual funds. The contributors, leading scholars in the field of investment law from around the world, provide a current legal analysis of funds from a variety of perspectives and using an array of methodologies that consider the large fundamental questions governing the role and regulation of investments funds as well identity and behavior of investors and issues surrounding less orthodox funds, such as money market funds, ETFs, and private funds.
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Chapter 9: Mutual fund compliance: key developments and their implications

James Fanto

Abstract

The chapter focuses on the burgeoning field of regulatory compliance, as it relates to mutual funds. Specifically, it examines three major developments: (1) the continuing confusion over potential supervisory liability for compliance officers; (2) the increasing use of technology by these officers; and (3) the possible integration of the compliance function into risk management, rather than compliance remaining as a standalone control function. The chapter argues that, rather than passively watching and accepting these developments as they unfold, compliance officers and others with a stake in effective compliance should examine the developments critically to preserve the effectiveness of regulatory compliance.

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