Thursday, January 22, 2004
FOXNews.com - Politics - Bill Would Outlaw Mutual Fund, Brokerage Practices: "Bill Would Outlaw Mutual Fund, Brokerage Practices
In response to mutual fund scandals, senators are proposing to outlaw long-standing practices by fund companies and brokerage firms that they say create conflicts of interest and drive up investors' costs.
The proposals would significantly change the way mutual fund companies conduct business with investors and the brokers who sell funds. They are part of legislation outlined Monday that would require fuller and clearer information on fees and operations. "
In response to mutual fund scandals, senators are proposing to outlaw long-standing practices by fund companies and brokerage firms that they say create conflicts of interest and drive up investors' costs.
The proposals would significantly change the way mutual fund companies conduct business with investors and the brokers who sell funds. They are part of legislation outlined Monday that would require fuller and clearer information on fees and operations. "
