Brian P. Murphy

PHILADELPHIA — Stradley Ronon partners Michael Mundt and Brian Murphy presented at the Mutual Fund Directors Forum (MFDF) program, “ETF Dual-Class Relief Impacts on Board Oversight.” The November 19 webinar brought together independent directors, fund professionals and industry stakeholders for a timely discussion on the U.S. Securities and Exchange Commission (SEC)’s recent approval of exemptive relief for dual-share-class ETF structures (ETF share class).

During the session, Mike and Brian discussed how the SEC’s action opens the door for ETFs to operate as a share class within mutual fund structures, marking a significant shift in the regulatory landscape. They also explored the new governance responsibilities for independent directors, including oversight considerations related to launching and managing ETF share classes.

Mike is nationally recognized for his work in the ETF space. He assists clients with all phases of the complex regulatory process required to introduce and operate index-based and actively managed ETFs, as well as next-generation exchange-traded products.

Brian provides unique insight into the investment management industry as both a former in-house counsel at one of the world’s largest asset management firms and a former lawyer at the SEC. While serving as an in-house counsel, he led multiple legal teams, including the legal team focusing on the firm’s ETF share class structures.

About Stradley Ronon Stevens & Young, LLP
Counseling clients since 1926, Stradley Ronon has helped private and public companies — from small businesses to Fortune 500 corporations — achieve their goals by providing pragmatic, value-driven legal counsel. With offices coast to coast, our lawyers seamlessly address the full spectrum of our clients’ needs, ranging from sophisticated corporate transactions to complex commercial litigation.