Partner Stuart Fross was quoted in a Board IQ article, “With Zero-Fee Funds, What’s a Board to Do at 15(c) Time?,” covering what Fidelity’s almost 20 no-fee funds mean for boards during their 15(c) contract renewal process.
Fross shares insights on all effects of the changes, including that, because of these changes, the need to have data on market behavior, investments and funds is now not vital during the 15(c) process. He also said that it’s now unnecessary to do the Gartenberg factors because there is no profitability in it. In addition, though, he points out other outcomes that will come of Fidelity’s new structure, saying that the no-fee funds make it a possibility to negotiate a fund’s investment management fee.
Fross shares insights on all effects of the changes, including that, because of these changes, the need to have data on market behavior, investments and funds is now not vital during the 15(c) process. He also said that it’s now unnecessary to do the Gartenberg factors because there is no profitability in it. In addition, though, he points out other outcomes that will come of Fidelity’s new structure, saying that the no-fee funds make it a possibility to negotiate a fund’s investment management fee.
People
Related News
July 2, 2025
In the News
John Strom and Peter Tomasi Quoted on Shift in Environmental Policy
Foley & Lardner LLP attorneys John Strom and Peter Tomasi commented on changes to federal environmental rules in the Utility Dive article, "Federal agencies, including FERC and DOE, revoke environmental review rules."
June 30, 2025
In the News
Lynn Gandhi Assesses Midyear Takeaways from Major State and Local Tax Cases
Foley & Lardner LLP partner Lynn Gandhi is featured by Law360 for her takeaways on major state and local tax cases in the article, "Top State & Local Tax Cases Of 2025: Midyear Report."
June 27, 2025
In the News
Donald Schroeder Highlights FMCS Importance Amid Service's Uncertain Future
Foley & Lardner LLP partner Donald Schroeder described the Federal Mediation and Conciliation Services' (FMCS) importance in the Law360 article, "As Feds' Bargaining Mediator Ails, New Services Emerge."