Overhaul of Mutual Funds Rules Considered: The...
From Times Staff and Wire Service Reports
Overhaul of Mutual Funds Rules Considered: The SEC decided to begin the process of overhauling 50-year-old regulations for the $1.2-trillion mutual fund industry. The SEC is making no specific proposals on changes to the existing law, last revised in 1970. Instead it is asking fund managers and investors to suggest ways to update the act so the SEC can better protect investors against fraud, keep costs low and promote innovation while ensuring the funds’ integrity.
