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Rajib Chanda Quoted in Fund Director Intelligence Regarding the SEC’s Alternative Funds Probe
08.20.14
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Simpson Thacher Corporate Partner Rajib Chanda was quoted in Fund Directors Intelligence, an Institutional Investor publication, in an article discussing the SEC’s approach to its recently launched examination of alternative mutual funds that engage in “hedge fund-like strategies”. Rajib commented that it is useful that the SEC has provided boards and advisers a “roadmap” on the areas they will be focusing on during the exam sweep, namely leverage, liquidity and valuation. Rajib also noted that the independent directors should not fear the increased scrutiny from the regulators since boards are already monitoring the issues the SEC is focusing on and said, “I don’t know what the SEC expects to find; here, there are rules and guidance and structures and people abide by them.”