BoardIQ Quotes Investment Management Counsel David Tittsworth on Derivatives Rule Re-Proposal

A piece published by BoardIQ on Aug. 28 titled “Less Work for Boards in Re-proposed Derivatives Rule?” reports that the SEC is re-proposing an abandoned derivatives rule. Remarks from investment management counsel David Tittsworth are included in the piece. “The new proposal [may] revisit the original [rule’s] investment limits – the part the industry dislikes the most,” Mr. Tittsworth cautions in the article, also stating that “It could reconsider the original rule’s mandate that directors review quarterly reports and could propose a less-frequent schedule.” Despite this, Mr. Tittsworth adds that “It’s going to be a different rule.” “They’re going to look at all the comments filed back in 2016, including the ones from the ICI and the Mutual Fund Directors Forum about boards.”