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Article: SEC Tightens Disclosure Rules for Mutual Fund Brokers in Wake of Scandals.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 15, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. 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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By Paul Adams, The Baltimore Sun Knight Ridder/Tribune Business News
Jan. 15--A day after regulators slammed the mutual fund industry with fresh allegations of investor abuse, the Securities and Exchange Commission proposed new rules yesterday that will require brokers to tell their clients whether mutual fund companies have paid them to recommend certain funds.
The agency also proposed rules that will make fund boards more independent of company management and require investment advisers to adopt strict codes of ethics to govern their dealings with investors as part of a sweeping regulatory overhaul.
The regulations are the latest in a ...