Partner Aaron Morris proposes in a comment letter to the SEC that the new rules governing service provider oversight should require contracts with providers to clearly delineate when a provider is entitled to indemnification and expense advancements.

The fund industry recently lost its second case on the use of control share bylaws, which seek to limit the ability of large shareholders to vote their shares after their holdings exceed a defined threshold.

Concerning trends for asset managers continued apace in 2020, as did efforts in courtrooms, legislatures and boardrooms to protect the industry’s underbelly.