According to SEC regulations, the majority of the members on a mutual fund's board of directors must be
A)employed by the fund.
B)outsiders (not employed by the fund).
C)certified public accountants.
D)certified financial analysts.

Question

Quizplus · Accepted Answer

According to SEC regulations, at least 75% of the members on a mutual fund's board of directors must be outsiders, meaning they are not employed by the fund. This is meant to ensure that the board is independent and able to act in the best interests of the shareholders. The other options (A, C, and D) are not required by SEC regulations for the majority of the board members.

According to SEC Regulations, the Majority of the Members on a Mutual