RegulationsCâu 46 / 110
Under the Investment Company Act of 1940, what portion of a registered fund's board must consist of directors who are not affiliated with the fund's adviser or underwriter?
a.No minimum is specified
b.At least 10%
c.At least 25%
d.At least 40%
Giải thích
The Act requires that non-interested, independent directors make up at least 40% of the board so that shareholder interests have meaningful representation when advisory contracts are reviewed. Many funds voluntarily exceed this level, but 40% is the statutory floor. The lower percentages and the claim that no minimum exists both understate the requirement.
Trích dẫn luật: Investment Company Act of 1940Luyện miễn phí toàn bộ 110 câu hỏi — không cần đăng ký.
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