TITLE

House Democrats, Republicans Clash on Mutual Fund Disclosure

AUTHOR(S)
Sanchez, Humberto
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/19/2003, Vol. 344 Issue 31660, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
On June 18, 2003 top Democrats and Republicans on a House panel disagreed over the need for recently introduced legislation designed to improve and supplement the disclosure information provided to mutual fund investors, including requiring that funds provide investors with estimated dollar amounts of operating expenses and details of so-called soft-dollar arrangements. Soft-dollar arrangements refer to those in which an investment adviser directs a client's business to a broker in return for obtaining research products or services from the broker in addition to the brokerage services. The measure would also require that two thirds of all board directors be independent and that the fund chairman of the board be independent, and would subject mutual funds to more rigorous audit standards. The legislation would help restore investor confidence, according to subcommittee chairman Richard A. Baker, who introduced the measure last week, one day after the U.S. Securities & Exchange Commission sent his panel a massive 120-page document calling for mutual fund reforms.
ACCESSION #
10125551

 

Related Articles

  • SEC Proposes Investment Company Governance Requirements and Investment Adviser Codes of Ethics. Baker, Nicole A.; Cary, Marticha L.; Porter, Alan C. // Venulex Legal Summaries;2004 Q1, p1 

    The article focuses on the rules and rule amendments proposed by the U.S. Securities and Exchange Commission under the Investment Company Act of 1940 and Investment Advisers Act of 1940. Retention of copies of all written materials that directors consider in approving advisory contracts is...

  • Industry Leaders Urge Curbing New Products. Greene, Andrew // Investment Management Weekly;10/16/2000, Vol. 13 Issue 40, p4 

    Reports on the calls of investment industry leaders for the United States Securities and Exchange Commission to consider regulating products like separate accounts and hedge funds under the Investment Company Act of 1940 as of October 16, 2000.

  • Government push helps vehicles to accelerate.  // EuroProperty;2004, p43 

    This article reports that the Italian government doubled the size of the country's property fund management market last month when it launched a fund seeded with state property worth 3-4bn euro. When it comes to judging the success of Italy's property fund sector, the figures speak for...

  • FEAR OF A BLACK BOX. Fox, Justin // Fortune;11/14/2005, Vol. 152 Issue 10, p172 

    The article argues the importance of hedge funds for the economy and markets. Hedge funds appear to deliver better returns than the mutual fund industry. But hedge funds lack regulation and transparency. The article discusses the laws governing mutual funds. The article looks at the hedging...

  • Whose Fund Is It, Anyway? Updegrave, Walter // Money;Jan2004, Vol. 33 Issue 1, p55 

    The article presents the views of the author regarding the concept of fund ownership and the need for fundamental changes to be made within the fund industry. There are important distinctions concerning how fund companies should manage funds and what investors and owners should expect from...

  • FEAR OF A BLACK BOX. Fox, Justin // Fortune International (Europe);11/14/2005, Vol. 152 Issue 9, p86 

    The article argues the importance of hedge funds for the economy and markets. Hedge funds appear to deliver better returns than the mutual fund industry. But hedge funds lack regulation and transparency. The article discusses the laws governing mutual funds. The article looks at the hedging...

  • Abbey shuns 'too risky' investment trusts. Newman, Amanda // Money Marketing;2/17/2005, p26 

    The article reports that financial company Abbey will not include investment trusts in its multi-manager portfolios as it believes they are too risky to hold. Ucits III legislation gives multi-managers the flexibility to invest in a mix of closed- and open-ended funds, and boutique fund managers...

  • Mutual Funds Industry in Pakistan.  // Economic Review (05318955);Apr2004, Vol. 35 Issue 4, p37 

    Reports on the actions taken by the government of Pakistan in ensuring the productivity of mutual funds in the country. Notification of the Investment Companies and Investment Advisors Rules, 1971 (IC & IA Rules); Declaration of the Asset Management Companies Rules, 1995 (AMC Rules); Amendments...

  • Clouds on horizon for private investment funds. Shaw, Joel T.; Gerlach, Steven R. // New Hampshire Business Review;7/16/2010, Vol. 32 Issue 14, p28 

    The article reports on the House Resolution (H.R.) 4213 or the American Jobs and Closing Tax Loopholes Act of 2010 passed on May 28, 2010 by the U.S. House and approved by the senate for private investment fund managers. It states that the act will compel fund managers to consider 75% of the...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics