Tech ETF's Advisory Contract Lapse Offers Lessons for Boards, BoardIQ

Partner Mark Parise spoke with BoardIQ about lessons for fund boards after an investment adviser’s agreement with an exchange-traded fund expired before it was presented to the board for reapproval.

“I view this as a calendaring process control issue rather than a board fiduciary judgment issue,” Mark said. He noted that boards should confirm their calendars are reliable, understand who is responsible for each deadline, and determine whether multiple parties independently check agreements and renewal dates to provide redundancy if one control fails.

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