Trustee eligibility restrictions bar asset management company personnel from trusteeship and prevent trustees serving multiple mutual funds. Amendment prohibits any asset management company and its directors, officers or employees from being appointed as trustees of a mutual fund, and further prohibits any person who is a trustee of one mutual fund from being appointed as a trustee of any other mutual fund; mutual funds not in compliance at commencement must achieve compliance within a prescribed remedial period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trustee eligibility restrictions bar asset management company personnel from trusteeship and prevent trustees serving multiple mutual funds.
Amendment prohibits any asset management company and its directors, officers or employees from being appointed as trustees of a mutual fund, and further prohibits any person who is a trustee of one mutual fund from being appointed as a trustee of any other mutual fund; mutual funds not in compliance at commencement must achieve compliance within a prescribed remedial period.
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