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Article: ICI task forces spark skepticism; The expected lack of a formal report seen as problematic.(News)
- Article from:
- Investment News
- Article date:
- October 20, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Frederick P. Gabriel Jr.
Facing investor mistrust and pressure from Washington, the mutual fund industry's powerful lobby insists that it is taking steps to curb late-trading and market-timing abuses.
But those steps are likely to prove feeble at best, industry experts say.
That is because the two task forces formed earlier this month by the Investment Company Institute to consider ways to improve protection of shareholders from improper trading won't present policymakers with specific recommendations - at least not in most instances.
Instead, the primary goal of the task forces is to evaluate the pros and cons of various ...