The Department of Justice has been looking at the practice of corporate directors serving on multiple boards. According to a Nov. 29, 2022, article in BoardIQ titled “DOJ Targets Corporate Directors for Holding Multiple Seats; Are Fund Boards Next,” this raises the question of whether the DOJ will further expand its scrutiny.
Partner Marc Schildkraut told the publication that, while the government has not yet gone after the practice of serving on multiple mutual fund boards, “there ought to be some concern about it.”
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