Baker Measure Calls for More Information From Mutual Funds

Hume, Lynn
June 2003
Bond Buyer;6/12/2003, Vol. 344 Issue 31655, p4
Trade Publication
Chairman of the United States House Financial Services Committee's capital markets panel Richard Baker introduced legislation on June 11, 2003 that would require mutual funds to disclose more information to investors. The bill would establish significant new standards for mutual funds, including municipal bond funds, that will enable and empower investors to make better and more informed decisions about investing in such funds. The bill is an attempt to to close legislative loopholes that have both spurred the growth of soft dollar arrangements and allowed persons to serve as independent directors for funds when they are not be truly independent from management.


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