A federal court of appeals recently held out the possibility that insider trading prohibitions—at least under the classic theory—do not apply to mutual fund redemptions.

The U.S. Court of Appeals for the Seventh Circuit recently reversed and remanded a summary judgment granted to the SEC in a case alleging that a mutual fund’s chief compliance

The SEC, it seems, is serious when they say that mutual fund trustees are “watchdogs” and “gatekeepers,” and they are prepared to hold board members responsible for acting that way. For the second time in less than six months, the SEC named fund board members in an enforcement action. This time, the focus is on