# NYLI CBRE Global Infrastructure Megatrends Term Fund > Alpha governed public record. Unknown, unavailable, and unpublished values are never inferred as zero. ## Record | Field | Value | | --- | --- | | Representation | alpha-profile-markdown-v4 | | Protocol | Alpha Governance Facts Protocol 0.1 | | Schema | alpha.governance.entity.public.v1 | | Record version | public-1:d751713988987e9331980363e24189ce:ro-d751713988987e9331980363e24189ce | | Governance record representation | alpha-governance-record-v2 | | Canonical entity | alpha:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2 | | Entity type | Company | | Canonical URL | https://registry.alpha.ac/companies/nyli-cbre-global-infrastructure-megatrends-term-fund | | Publication | PUBLISHED | | Verification | source_reported | | Verification schema | alpha-verification-states-v1 | | Ownership | unclaimed | | Published claims | 16 | | Claims under review | 1 | | Evidence records | 2 | | Conflicts | 0 | | Conflicts in internal review | 0 | | Observed | 2026-10-17T04:46:16.320231+00:00 | | Last reviewed | 2026-10-17T04:46:16.320231+00:00 | ## Identity - Legal name: NYLI CBRE Global Infrastructure Megatrends Term Fund - Display name: NYLI CBRE Global Infrastructure Megatrends Term Fund ## Alpha Governance Record | Field | Value | | --- | --- | | Governance Record schema | alpha-governance-record-v2 | | Ontology | alpha-governance-ontology-v1 | | Record version | public-1:d751713988987e9331980363e24189ce:ro-d751713988987e9331980363e24189ce | | As of | 2026-10-17T16:06:40.440919+00:00 | | Completeness | 0.318 | | Record Quality | 0.851 | | Directors | 12 | | Committees | 0 | | Governance events | 12 | | Entity class | public_company | ## Section coverage | Section | State | | --- | --- | | identity | PUBLISHED | | corporate_structure | NOT_REVIEWED | | board | PUBLISHED | | committees | NOT_REVIEWED | | leadership | NOT_REVIEWED | | ownership | NOT_REVIEWED | | financials | NOT_REVIEWED | | capital_structure | PUBLISHED | | compensation | NOT_REVIEWED | | governance | NOT_REVIEWED | | shareholder_governance | NOT_REVIEWED | | audit | NOT_REVIEWED | | legal | NOT_REVIEWED | | risk | NOT_REVIEWED | | cyber | NOT_REVIEWED | | ai_governance | NOT_REVIEWED | | agent_governance | RESTRICTED | | markets_external | NOT_REVIEWED | | events | PUBLISHED | | relationships | PUBLISHED | | assessments | PUBLISHED | | evidence | PUBLISHED | ## Board - Adeel Jivraj: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2026-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:5 - Alan R. Latshaw: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2007-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:6 - David H. Chow: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2016-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:7 - Jacques P. Perold: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2016-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:8 - Karen Hammond: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2021-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:9 - Mid-Atlantic Ms. Hammond: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2021-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:10 - Naïm Abou-Jaoudé: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2023-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:11 - NYLI MacKay DefinedTerm: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2011-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:12 - Portfolios Complex Overseen: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2015-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:13 - SEC-registered Mr. Jivraj: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2026-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:14 - Stephanie Lynch: Director. Status: current. Independent: NOT_PUBLISHED. Since: 2026-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:15 - Susan B. Kerley: Director. Status: current. Independent: NOT_PUBLISHED. Since: 1990-01-01. claim_id=alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:16 ## Governance events - DIRECTOR_APPOINTED: Adeel Jivraj seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2026-01-01. Effective: 2026-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1pfnixu1h3qut0 - DIRECTOR_APPOINTED: SEC-registered Mr. Jivraj seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2026-01-01. Effective: 2026-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1wba5tq1tbxxz8 - DIRECTOR_APPOINTED: Stephanie Lynch seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2026-01-01. Effective: 2026-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1hr7ak716q47md - DIRECTOR_APPOINTED: Naïm Abou-Jaoudé seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2023-01-01. Effective: 2023-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:s8w9q61sdosro - DIRECTOR_APPOINTED: Karen Hammond seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2021-01-01. Effective: 2021-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:161glt51wb5esf - DIRECTOR_APPOINTED: Mid-Atlantic Ms. Hammond seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2021-01-01. Effective: 2021-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1f7s13j1k6g8j7 - DIRECTOR_APPOINTED: David H. Chow seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2016-01-01. Effective: 2016-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1j2evxx1bcgc89 - DIRECTOR_APPOINTED: Jacques P. Perold seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2016-01-01. Effective: 2016-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:15yx6taq2n1jy - DIRECTOR_APPOINTED: Portfolios Complex Overseen seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2015-01-01. Effective: 2015-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1k1n3r31w7wghz - DIRECTOR_APPOINTED: NYLI MacKay DefinedTerm seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2011-01-01. Effective: 2011-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:8xjfgcjmyxhy - DIRECTOR_APPOINTED: Alan R. Latshaw seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 2007-01-01. Effective: 2007-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:1mt90uu10ltino - DIRECTOR_APPOINTED: Susan B. Kerley seat on NYLI CBRE Global Infrastructure Megatrends Term Fund, effective 1990-01-01. Effective: 1990-01-01. Detected: 2026-10-17T04:46:16.320231+00:00. event_id=alpha:event:transition:gbtbsr1sdire1 ## Scoped resources - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/identity` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=identity - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/corporate-structure` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=corporate-structure - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/board` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=board - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/committees` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=committees - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/leadership` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=leadership - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/ownership` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=ownership - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/financials` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=financials - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/capital-structure` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=capital-structure - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/compensation` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=compensation - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/governance` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=governance - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/shareholder-governance` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=shareholder-governance - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/audit` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=audit - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/legal` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=legal - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/risk` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=risk - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/cyber` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=cyber - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/ai-governance` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=ai-governance - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/agents` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=agents - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/ecosystem` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=ecosystem - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/events` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=events - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/relationships` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=relationships - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/assessments` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=assessments - `alpha://company/nyli-cbre-global-infrastructure-megatrends-term-fund/evidence` (contract): https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record§ion=evidence ## Role modules - NOT_ASSERTED ## Attention - NO_RECORDS_FOUND ## Committee data - NO_RECORDS_FOUND ## Leadership - Adeel Jivraj: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:5. Valid from: 2026-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Alan R. Latshaw: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:6. Valid from: 2007-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - David H. Chow: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:7. Valid from: 2016-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Jacques P. Perold: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:8. Valid from: 2016-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Karen Hammond: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:9. Valid from: 2021-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Mid-Atlantic Ms. Hammond: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:10. Valid from: 2021-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Naïm Abou-Jaoudé: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:11. Valid from: 2023-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - NYLI MacKay DefinedTerm: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:12. Valid from: 2011-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Portfolios Complex Overseen: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:13. Valid from: 2015-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - SEC-registered Mr. Jivraj: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:14. Valid from: 2026-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Stephanie Lynch: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:15. Valid from: 2026-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. - Susan B. Kerley: Director. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:leadership_role:16. Valid from: 1990-01-01. Valid to: NOT_ASSERTED. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77. ## Roles - PUBLISHED ## Governance - NOT_ASSERTED ## Board committees - PUBLISHED ## Financials - NOT_ASSERTED ## Workforce - NOT_ASSERTED ## Market and index context - PUBLISHED ## Legal Name - NYLI CBRE Global Infrastructure Megatrends Term Fund. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:legal_name:1. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:7fc97dc0d84157fd7a064dbd9bdfc88db50c9bdc77532e9d472bbd861adb0e0f. ## Entity Status - Public listing published. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:entity_status:3. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:7fc97dc0d84157fd7a064dbd9bdfc88db50c9bdc77532e9d472bbd861adb0e0f. ## Published Fact - US. Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:published_fact:4. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:7fc97dc0d84157fd7a064dbd9bdfc88db50c9bdc77532e9d472bbd861adb0e0f. ## Security Listing - MEGI (NYSE). Claim: alpha:claim:company:adad77fe-26dd-42a0-8486-e621ec9ed1c2:security_listing:17. Publication: PUBLISHED. Verification: source_reported. Assertion: source_reported. Evidence: alpha:projection-evidence:7fc97dc0d84157fd7a064dbd9bdfc88db50c9bdc77532e9d472bbd861adb0e0f. ## Coverage states | Field | Value | | --- | --- | | Identity | PUBLISHED | | Business | PUBLISHED | | Leadership | PUBLISHED | | Board and committees | PUBLISHED | | Governance | NOT_ASSERTED | | Financials | NOT_ASSERTED | | Workforce | NOT_ASSERTED | | Ownership | NOT_ASSERTED | | Ratings | NOT_PUBLISHED | | Market and index context | PUBLISHED | ## Public sources - alpha:projection-evidence:7fc97dc0d84157fd7a064dbd9bdfc88db50c9bdc77532e9d472bbd861adb0e0f: [Alpha canonical company public projection](https://www.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund). - alpha:projection-evidence:document:321e0b9b9285f482aec804f9caaf5c9a0481d872125e54f71ed6bda80066aa77: [NYLI CBRE Global Infrastructure Megatrends Term Fund DEF 14A 2026-07-24](https://www.sec.gov/Archives/edgar/data/1855066/000119312526315183/d134213ddef14a.htm). ## Rights | Field | Value | | --- | --- | | public_retrieval | allowed | | agent_retrieval | allowed | | redistribution | not_granted | | model_training | not_granted | | commercial_use | not_specified | | relationship_pathfinding | not_granted | | direct_contact | not_granted | ## Limitations - Absence of a leadership role, committee, or disclosure is not evidence that it does not exist. - Only explicitly published canonical company identity and current confirmed public roles are included. - Absence of a board, committee, executive, listing, or claim is not evidence that it does not exist. - Public retrieval does not grant redistribution, model-training, direct-contact, or relationship-pathfinding rights. - This Company Profile is an identity and evidence record, not an Alpha rating. ## Alternate representations - [Canonical profile](https://registry.alpha.ac/companies/nyli-cbre-global-infrastructure-megatrends-term-fund) - [Public Markdown](https://registry.alpha.ac/companies/nyli-cbre-global-infrastructure-megatrends-term-fund.md) - [Public JSON](https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=record) - [JSON-LD](https://registry.alpha.ac/api/public/companies/nyli-cbre-global-infrastructure-megatrends-term-fund?format=jsonld) - MCP resource: `alpha://companies/nyli-cbre-global-infrastructure-megatrends-term-fund` at https://mcp.alpha.ac/mcp ## Connected governance records Only explicitly published, rights-cleared records. Missing records do not establish absence, safety, or complete coverage. ## Critical-risk oversight Snapshot as of 2026-10-17T16:06:40.246307+00:00; recorded 2026-10-17T16:06:40.246307+00:00. Every published assignment for this snapshot is listed. Only explicitly reviewed, rights-cleared assignments in effect on the as-of date, in the company's own wording. An assignment shows where oversight is placed, not whether it is effective. Missing records do not establish absence.