Assertion: fund's investment adviser | /r/HasProperty | principal underwriter
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text: 24 See Investment Company Institute, Report of the Advisory Group on Best Practices for Fund Directors: Enhancing A Culture of Independence and Effectiveness (June 24, 1999), at 12-13 (“ICI Advisory Group Report”) (recommending that former officers or directors of a fund’s investment adviser, principal underwriter, or certain of their affiliates not serve as independent directors of the fund); Investment Company Institute, Resolution of the Board of Governors of the Investment Company Institute (Oct. 3, 2003) (resolving that ICI members adopt practices to disqualify persons with certain family relationships from serving as independent directors of funds) (http://www.ici.org/issues/dir/03_fund_gov_best_stmt.html).