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Article: SEC Mutual Fund Oversight: Positive Actions Are Being Taken, but Regulatory Challenges Remain.
- Article from:
- General Accounting Office Reports & Testimony
- Article date:
- August 1, 2005
CopyrightCOPYRIGHT 2005 Stonehenge International. 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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GAO-05-692T June 7, 2005
Trading abuses--including market timing and late trading violations--uncovered among some of the most well-known companies in the mutual fund industry permitted favored customers to profit at the expense of long-term shareholders. Questions have also been raised as to why the New York State Office of the Attorney General identified the trading abuses in September 2003 before the industry's primary regulator: the Securities and Exchange Commission (SEC). Based on two recently issued GAO reports, this testimony discusses (1) the reasons SEC did not detect the abusive practices at an earlier stage and lessons learned from the agency not ...
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Article: SEC Criticizes Mutual Fund Industry.
Knight Ridder/Tribune Business News;
January 14, 2004 ;
700+ words
... ... telling investors. SEC officials said the ... disclose payments from mutual fund companies whose funds ... investigation. The SEC is expected to consider ... that would require mutual fund companies to increase ... conflict of interest." SEC chairman William H. Donaldson warned ...
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