On-Demand   On-Demand Web Programs

Basics of Mutual Funds and Other Registered Investment Companies 2017

Released on: May. 1, 2017
Running Time: 06:37:34

This program is designed to provide you with a basic overview of the legal, regulatory and operational issues affecting “registered investment companies” – the universe of publicly offered pooled investment vehicles that include mutual funds, closed-end funds, exchange-traded funds (“ETFs”) and others.  You will learn the fundamentals of the extensive regulatory framework that dictates the structure and operations of retail investment funds as well as hot topics and developments affecting this $13 trillion industry.  A distinguished faculty of practitioners and regulators, will offer insights into regulatory and enforcement developments – including the new administration and SEC -- that could significantly change the landscape of the retail investment management industry.

You will learn:

  • The history of registered fund regulation
  • How funds are created, managed and sold
  • The extensive variety of publicly-offered funds, including money market funds, mutual funds, closed-end funds, exchange-traded funds and variable insurance products
  • New requirements relating to mutual fund liquidity and investments in derivatives
  • The SEC’s 2017 regulatory and exam priorities
  • Fund valuation issues
  • Litigation and enforcement hot topics
  • SEC focus on “alternative” investment companies
  • Inherent conflicts of interest—and how they are addressed

Anyone entering the investment management industry will benefit from this fundamental overview of the regulation and operation of registered investment companies, as will anyone already working in the industry who would like a refresher.

Lecture Topics [Total time 06:37:34]

Segments with an asterisk (*) are available only with the purchase of the entire program.

  • Introduction and Overview* [00:04:09]
    Clifford E. Kirsch, Laurin Blumenthal Kleiman
  • The Evolution of an Industry: 75 Years of Retail Fund Regulation … and Counting [01:16:09]
    Francis J. Facciolo, Clifford E. Kirsch, Laurin Blumenthal Kleiman
  • Fund Anatomy [01:14:58]
    Gregory N. Bressler, Kathryn L. Quirk, Bibb L. Strench
  • Fund Marketing and Sale of Fund Shares [01:01:12]
    Cynthia R. Beyea, Gregory N. Bressler, Clifford E. Kirsch, Bibb L. Strench
  • Fund Regulation [01:00:29]
    Shannon Behara, Gladys Chang, Laurin Blumenthal Kleiman
  • Fund Litigation [01:00:00]
    Mark Holland, Laurin Blumenthal Kleiman, Lori A. Martin
  • Current Trends and Developments Related to Funds [01:00:37]
    Edward Baer, James C. Munsell, Matthew Thornton

The purchase price of this Web Program includes the following articles from the Course Handbook available online:


  • COMPLETE COURSE HANDBOOK
  • Forming, Organizing and Operating a Mutual Fund: Legal and Practical Considerations (January 2017)
    Carla G. Teodoro, Laurin Blumenthal Kleiman
  • Fund Anatomy
    Bibb L. Strench
  • SEC Staff Provides Guidance on Disclosure of Sales Load Variations and Filing of New Share Classes in Light of the DOL Fiduciary Rule (January 5, 2017)
    Ronald Coenen, Cynthia R. Beyea
  • SEC Adopts Investment Company Liquidity Risk Management Program (October 13, 2016)
    Shannon Behara
  • Excessive Fee Litigation and the Investment Company Act of 1940
    Lori A. Martin
  • Investment Company Institute Letter to the U.S. Securities and Exchange Commission Re: Comments on Continued Listing Standards for Exchange-Traded Products (January 12, 2017)
    Matthew Thornton

Presentation Material


  • The Evolution of an Industry
    Francis J. Facciolo, Clifford E. Kirsch, Laurin Blumenthal Kleiman
  • Registered Investment Company Regulation and Compliance
    Shannon Behara, Gladys Chang, Laurin Blumenthal Kleiman
  • Excessive Fee Litigation
    Lori A. Martin
  • Recent Trends in the Fund Marketplace
    Matthew Thornton
Co-Chair(s)
Clifford E. Kirsch ~ Eversheds Sutherland (US) LLP
Laurin Blumenthal Kleiman ~ Sidley Austin LLP
Speaker(s)
Edward Baer ~ Ropes & Gray LLP
Shannon Behara ~ Partner, ACA Compliance Group
Cynthia R. Beyea ~ Eversheds Sutherland (US) LLP
Gregory N. Bressler ~ General Counsel, SunAmerica Asset Management, LLC
Gladys Chang ~ Vice President, BlackRock
Francis J. Facciolo ~ Assistant Director, Securities Arbitration Clinic, Professor of Legal Writing, St John's University Law School
Mark Holland ~ Goodwin Procter LLP
Lori A. Martin ~ WilmerHale LLP
James C. Munsell ~ Sidley Austin LLP
Kathryn L. Quirk ~ Goldman Sachs Asset Management (Retired)
Bibb L. Strench ~ Thompson Hine LLP
Matthew Thornton ~ Assistant General Counsel, Investment Company Institute
General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.

PLI’s live and on-demand webcasts are single-user license products intended for an individual registrant only. Credit will be issued only to the individual registered.


U.S. MCLE States

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Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

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New Jersey:  PLI’s on-demand web programs qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional on-demand web programs can be used to fulfill the requirements for New York newly admitted attorneys. Only professional practice and law practice management credits may be earned via transitional on-demand web programs. Ethics and skills credits may not be earned via on-demand web programs.

North Carolina:  PLI’s on-demand web programs qualify as “online” credit. Attorneys are limited to 6 credits of online programs per reporting period.

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Ohio:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

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South Carolina:  PLI’s on-demand web programs qualify as “alternatively delivered” credit. Attorneys are limited to 6 credits of alternatively delivered programs per reporting period.

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Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 10 credits of self-study per reporting period.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s on-demand web programs qualify as “pre-recorded” credit. Attorneys are limited to 8 credits of pre-recorded programs per reporting period.

Washington:  PLI’s on-demand web programs qualify as “A/V” credit. Attorneys are limited to 22.5 credits of A/V programs per reporting period.

West Virginia:  PLI’s on-demand web programs qualify as “online” credit. Attorneys are limited to 12 credits of online instruction per reporting period.

Wisconsin:  PLI’s on-demand web programs qualify as “repeated, on-demand” credit. Attorneys are limited to 15 credits of repeated, on-demand programs per reporting period. No ethics credits can be earned via on-demand web programs.

Wyoming:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s on-demand web programs are not eligible for CPD-BC credit unless viewed with at least one other attorney or an articled student. In this case, the credit must be recorded as a “study group.”

Ontario (CPD-ON):  PLI’s on-demand web programs qualify as “recorded” credit. If viewed without a colleague, attorneys are limited to 6 credits of recorded programs per year. If viewed with at least one colleague, there is no limit to the number of credits that can be earned via recorded programs.

Quebec (CPD-QC):  PLI’s on-demand web programs can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s on-demand web programs are not approved for CPD-HK credit.

United Kingdom (CPD-UK):  PLI’s on-demand web programs can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s on-demand web programs may fulfill Australia’s CPD requirements. Credit limits for on-demand web programs vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.


Other Credit Types

CPE Credit (NASBA):  Select on-demand web programs qualify as “QAS Self-Study” credit. Please check the Credit Information box on the right-hand side of this page to verify CPE credit availability.

IRS Continuing Education (IRS-CE):  PLI’s on-demand web programs may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s on-demand web programs may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s on-demand web programs may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s on-demand web programs may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s on-demand web programs qualify as "self-paced" credit. SHRM professionals are limited to 30 credits of self-paced programs per recertification period.

Compliance Certification Board (CCB):  PLI’s on-demand web programs qualify as “self-study” credit. Candidates are limited to 10 self-study credits per 12-month period, and certification holders are limited to 20 self-study credits per 2-year renewal period.

Certified Anti-Money Laundering Specialists Certification (CAMS):  PLI’s on-demand web programs are not approved for CAMS credit.

New York State Social Worker Continuing Education (SW CPE):  PLI’s on-demand web programs are not approved for SW CPE credit.

American Bankers Association Professional Certification (ABA):  PLI’s on-demand web programs may fulfill ABA credit requirements.

 

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