1st Edition
Regulation and Governance of Mutual Funds United Kingdom and United States of America Perspectives on Investor Protection
Chapter 1: Introduction
1.1 Scope and Purpose
1.2 The Concept of Mutual Funds: Meaning and Terminology
1.3 Open-ended Retail Mutual Funds
1.4 Structure and Outline
PART I: MUTUAL FUNDS: CONCEPT, GROWTH AND HISTORY
Chapter 2: Mutual Funds: Meaning, Forms and Operations
2.1 Introduction
2.2 Concept of Mutual Funds
2.3 Role of Investment in Mutual Funds
2.4 Hedge Funds Versus Mutual Funds
2.5 Classification of Mutual Funds
2.6 Operation of a Mutual Fund
2.7 Legal Nature of Open-Ended Investment Companies and Unit Trust
2.8 Conclusion
Chapter 3: Mutual Funds: Growth and History
3.1 Introduction
3.2 Growth of the Mutual Funds Industry
3.3 Brief History of Mutual Funds
3.4 Conclusion
PART II: MUTUAL FUNDS REGULATION AND GOVERNANCE: THE QUEST FOR INVESTOR PROTECTION
Chapter 4: Mutual Funds Regulation: The United Kingdom
4.1 Introduction
4.2 Objectives of Financial Regulation
4.3 Existing legal Framework of Mutual Funds in the United Kingdom
4.4 Valuation and Pricing Regulations
4.5 Delegation of Functions
4.6 Winding up Mutual Funds
4.7 Conclusion
Chapter 5: Mutual Funds Prudential Regulation: The United Kingdom
5.1 Introduction
5.2 Prudential Regulation: Objectives and Tools
5.3 Mutual Funds Risk Management
5.4 Liquidity Risks Management in an Evolving Mutual Fund Industry
5.5 Mutual Funds Investment Limits: Prudent Spread of Risk
5.6 Conclusion
Chapter 6: Governance of Mutual Funds: Comparative Accounts of the United Kingdom and United States
6.1 Introduction
6.2 Conflicts of Interest: Agency Problem Theory
6.3 Definition and Scope of Governance
6.4 Competing Governance Models: Corporate Versus Contractual Model
6.5 Agency Problems as a Challenge to Governance
6.6 Disclosure as a Regulatory Tool in Mutual Funds Governance
6.7 Effectiveness of Voting Rights in Mutual Funds Governance
6.8 Role of the FCA in Protecting investors
6.9 Conclusion
Chapter 7: Regulation of Undertakings for Collective Investment in Transferable Securities: The European Union
7.1 Introduction
7.2 Development of the UCITS
7.3 Separation of Management and Supervision Functions: The Foundation of Investor Protection
7.4 Non-UCITS
7.5 EU Passports
7.6 Shareholder Rights Directive II and its Implications for UCITS Managers and Investors
7.7 UCITS and Brexit: Loss of Passporting Rights
7.8 Conclusion
Chapter 8: Mutual Funds and Investor Protection in the United Kingdom: Past, Present and Future
8.1 Framing Investor Protection in Mutual Funds Regulation and Governance
8.2 Concluding Comments
Biography
Mohammed Khair Alshaleel is Lecturer in Financial and Commercial Law at the University of Essex, UK.
