Janusí move last week to tie manager compensation to performance is indicative of fund firmsí move towards compliance with yet another SEC rule, reports the Wall Street Journal
requires funds to add more disclosure about how they compensate managers and how much managers are invested in their own funds.
While the rule doesnít specify an exact date, new funds are required to include the information in their registration statements, while existing funds are required to put the information in fund prospectuses.
Michael Rosella of Paul, Hastings, Janofsky & Walker LLP, is working with fund firms to meet the requirement. "It's going to mean a lot more disclosure," said Rosella. Rosella told the WSJ
that heís working "to create templates of charts that can be filled in by the portfolio managers with some assistance from the fund's administration compliance."
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