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Article: New York Attorney General Wants Mutual Fund Firms to Lower Fees.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 28, 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. 28--In defense of his hard-line tactics against mutual fund industry abuses, New York Attorney General Eliot Spitzer told a Senate panel yesterday that he will force more mutual fund companies to lower their fees as part of settlement cases, a controversial approach that has prompted some regulators to charge him with overstepping his bounds.
Spitzer, whose probe of the industry has revealed widespread abuses, said high fees are linked with the late-trading and market-timing scandals that rocked the industry last fall. Defending his hard-line stance, he pointed to figures ...