Mutual Fund Firms May Revamp Rules

U.S. mutual fund companies are considering overhauling rules for intermediaries such as brokerages, retirement plan providers and processing firms after federal and state regulators uncovered illegal fund trading.

Reforms may include requiring that all trades be submitted to fund companies at or near 4 p.m. and asking the Securities and Exchange Commission or other regulators to oversee intermediaries that aren’t currently regulated, Investment Company Institute President Matthew Fink said.