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Registered Rep.
September 1, 2004
John Churchill |
Hidden Market-Timers A new study of mutual fund firms' enforcement capabilities affirms what many in the industry have known for some time --- omnibus accounting practices by fund intermediaries make catching timers virtually impossible.   |
Wall Street & Technology
August 22, 2006
Cory Levine |
Get On the Omnibus: The Mutual Fund Industry Gears up for 22c-2 Mutual fund companies have October 16, the compliance date for SEC Rule 22c-2, circled in red ink on their calendars, and as it draws nearer the industry is putting the finishing touches on solutions to view and report trade activity in omnibus accounts. |
Investment Advisor
November 2005
Melanie Waddell |
The Playing Field: Round Two of Market Timing The SEC designed Rule 22c-2 to help mutual fund companies deal with market timing, but is it working? |
Registered Rep.
April 7, 2005
Kristen French |
NASD Advocates More Disclosure, Less Paper Broker/dealers and their reps may get a big break on point-of-sale disclosure if the Securities and Exchange Commission heeds recent NASD advice. |
Registered Rep.
February 27, 2004
David A. Gaffen |
Regulators, Industry Still Divided On Mutual Funds David Brown, bureau chief of investment protection in the New York Attorney General's office, said insurance companies who sold mutual funds wrapped in variable annuities, along with banks and law firms, may end up becoming targets of Eliot Spitzer's ire in coming months. |
CIO
July 1, 2004
Elana Varon |
Mutual Benefits To regain investor confidence and improve the bottom line, the mutual fund industry needs to integrate transactions up and down the supply chain. |
Wall Street & Technology
February 12, 2004
Jessica Pallay |
Operation Mutual Fund The SEC is on a mission to bring order to the chaotic state of the mutual-fund industry. |
Wall Street & Technology
January 4, 2004
Jessica Pallay |
Is Time on Your Side? As trading abuses are exposed, the mutual-fund industry contemplates how to stop the late bird from getting the worm. |
Financial Advisor
June 2005
Darwin K. Abrahamson |
Avoiding Redemption Fees In 401(k) Plans Since it's indisputable that redemption fees are becoming entrenched within mutual funds at an accelerated pace, an obvious solution to avoiding redemption fees altogether is to invest in exchange-traded funds (ETFs). |
Registered Rep.
August 1, 2004
Will Leitch |
The Reformation When the scandal craze that has gripped the securities industry first began two years ago, few in the industry recognized how deep it might go. |
BusinessWeek
December 22, 2003
Amy Borrus |
Funds: Leaving Little Guys Out In The Cold The SEC's cleanup of mutual funds could shortchange small investors. |
Wall Street & Technology
June 4, 2004
Jessica Pallay |
Fund Fixes Mutual funds are taking action to prepare for potential regulations on market timing, but there aren't any easy answers. |
The Motley Fool
May 20, 2004
Tim Beyers |
American Express Unit in Scandal The broker could be a target of a regulatory inquiry into mutual funds revenue-sharing. How can you tell if your own broker or advisor has a conflict of interest? |
Registered Rep.
May 1, 2005
Kristen French |
Scandal Scorecard: Mutual Funds on Top With the SEC and NASD recently levying more than $80 million in fines to five firms (for transgressions related to revenue sharing and B shares), mutual fund sales practices officially sit on the front burner. |
Registered Rep.
March 24, 2005
Kristen French |
Mutual Fund Enforcement Picks Up Steam On March 23, the SEC and NASD handed out fines in mutual fund-related punishments totaling more than $80 million to five firms. And that is likely just the beginning of a coming avalanche of similar regulatory actions, legal experts say. |
CFO
May 1, 2004
Roy Harris |
Raiding the Returns Hidden costs and high fees eat into 401(k) plan benefits. |
BusinessWeek
October 20, 2003
Dwyer & Thornton |
Mutual Funds Feel The Heat Did they feed information to hedge funds, brokers, and others? |
Wall Street & Technology
March 2, 2004
Jessica Pallay |
Give Me a Break Breakpoints may give investors a break, but Wall Street's CIOs are working overtime to comply with regulators' wishes. |
Wall Street & Technology
October 26, 2005 |
Costly Timing According to a report, compliance with the SEC's regulatory response to market timing abuses - Rule 22c-2 - will cost the mutual fund industry a total of $617.5 million over the next three years. |
Registered Rep.
November 1, 2005 |
Blotter Cooked Books... Direct Violation... Busted Market Timers... |
Registered Rep.
April 1, 2004
John Churchill |
Congress Moving on Mutual Funds Since the mutual fund scandals broke six months ago, Congress has been largely hands-off with regards to reform efforts, but that is changing fast. |
Financial Advisor
April 2004
Tracey Longo |
Wanted: Real Disclosure Rules on brokers compensation disclosure are changing---but slowly. |
BusinessWeek
September 22, 2003
Der Hovanesian et al. |
How to Fix the Mutual Funds Mess Hidden fees, lax boards, and now scandal. Here's what has to be done. |
Financial Planning
April 1, 2005 |
News Digest SEC Investment Chief Heads to Exit... Compliance: Fund Boards Gain Control over Timing Curbs... Companies: American Funds Charged for Kickbacks... Fidelity Boosts Fund Sales... etc. |
Registered Rep.
February 11, 2004
John Churchill |
Dueling Trend Lines on Complaints Brokers have become more attuned to investor complaints in recent years, but they must be forgiven if they're having a hard time drawing conclusions from the trend numbers reported by regulators. |
Entrepreneur
August 2004
Julie Monahan |
Payback Time Settlement dollars from the SEC crackdown on mutual fund malfeasance will reach millions. But will you get your fair share? |
BusinessWeek
November 10, 2003
Dwyer & Borrus |
The Coming Mutual-Fund Reforms As mutual-fund abuses mount, regulators and lawmakers promise tough new rules. |
Financial Planning
July 1, 2007
Marshall Eckblad |
Funds and Games Several regulatory issues are floating around the SEC. Will any of them get resolved? |
Financial Advisor
April 2004
Gregory Bresiger |
Fund Industry Dilemma: Who Pays The Bills? A new bill calls for the elimination of 12b-1 fees. |
Registered Rep.
May 21, 2004
Will Leitch |
Roye Blasts Revenue Sharing at ICI Conference; Strong Settles The SEC's director of its investment management division delivered perhaps his strongest remarks yet on mutual fund malfeasance. |
The Motley Fool
March 19, 2004
Whitney Tilson |
The Disgrace of Soft Dollars Massachusetts Financial Services Co. (MFS), the oldest and 11th-largest mutual fund company, announced this week that it has stopped paying brokers in "soft dollars." I can hear the yawns across America, but this is an important issue because investors are being bilked out of billions. |
Registered Rep.
April 1, 2005
Luxenberg & French |
A Pile of Reasons Regulators and broker/dealer management have gone overboard with mutual fund disclosure. Take the case of the B-share class of mutual funds. |
Registered Rep.
March 16, 2006
John Churchill |
Bear Stearns Fined $250 Million for Securities Fraud The SEC's investigation found that from 1999 through September 2003, the firm provided technology, advice and deceptive devices that helped market timers and late traders evade the firm's own systems as well as those of mutual funds. |
Investment Advisor
August 2007
Melanie Waddell |
Will 12b-1 Fees Survive? Will the securities and Exchange Commission repeal 12b-1 fees? It depends on whom you ask, but SEC Chairman Christopher Cox has vowed to either repeal or revamp the Commission's 12b-1 rule by year-end. |
Registered Rep.
November 5, 2003
Will Leitch |
NASD: Brokerages Owe $86M To Investors The summer 2003 scandal involving unpaid breakpoints -- sales-charge discounts that mutual fund companies provide investors who put in a certain amount in a selected fund -- might have been dwarfed by the market-timing scandal, but the SEC and the NASD haven't forgotten about it. |
The Motley Fool
April 2, 2004
Shannon Zimmerman |
SEC: Toothless No More? Is the SEC getting serious about fund industry reform? |
The Motley Fool
October 15, 2010
Bill Barker |
Why We Oppose 12b-1 Fees This little sales charge doesn't benefit existing shareholders, is insufficiently transparent, and the SEC has a new proposal to limit that fee. |
Registered Rep.
February 18, 2004
John Churchill |
SEC Puts Forth Mutual Fund Rules Proposals The SEC has put forth three proposals that could drastically change the way mutual funds are sold. |
The Motley Fool
October 18, 2010
Dan Caplinger |
It's Time to Take Back Your $10 Billion Whether you think 12b-1 fees are bilking investors or a fair way to compensate financial professionals, the SEC needs your opinion. |
Registered Rep.
November 7, 2003
David A. Geracioti |
SEC Chief "Distressed" at "Wrongdoing" in Industry SEC Chairman William Donaldson's favorite word is distressed -- at least that was true during both his speech to the Securities Industry Association annual meeting and the press briefing that followed. |
Registered Rep.
December 1, 2006
Stan Luxenberg |
Payback Time Still As punishment for the market-timing scandals, the SEC and other enforcers collected fines from 20 fund companies. Four fund companies have filed plans with the SEC to distribute the cash to shareholders. But so far the money sits waiting until the plans are approved. |
Registered Rep.
September 1, 2005
Karen Donovan |
Under Siege Executives of broker/dealer firms are not exaggerating when they say it seems like regulators are locked into a competitive battle to collect the most pelts on Wall Street. |
Registered Rep.
July 30, 2003
Will Leitch |
SIA Says "Me Too" on Sales Fee Investigations Amid the brewing investigations into mutual fund sales practices, the Securities Industry Association came out last week in support of the new Joint NASD/Industry Task Force. |
Registered Rep.
September 1, 2005
Stan Luxenberg |
Gray Matter When the mutual fund scandals broke in September 2003, New York Attorney General Eliot Spitzer and other politicians described the misdeeds in black-and-white terms. Now, two years into the legal actions, the matter is getting murkier. |
Registered Rep.
August 18, 2004
Will Leitch |
SEC Unanimously Votes to Ban Directed Brokerage The 5-0 vote surprised few. Perhaps more worrisome was the call for comment on overhauling or banning outright 12b-1 fees, which were described as disguised commissions. |
Registered Rep.
September 1, 2004
Will Leitch |
Directed Brokerage Goes Down for the Count The first target has been hit: Directed brokerage is no more, and 12b-1 fees might be in more danger than had been thought. |
Registered Rep.
August 8, 2005
Stan Luxenberg |
CIBC and the Murky Waters of Mutual Fund Enforcement When the mutual fund scandals broke in September 2003, New York Attorney General Eliot Spitzer and other politicians described the misdeeds in black-and-white terms. Now, two years into the legal actions, the saga has begun to appear murkier. |
The Motley Fool
July 29, 2004
Selena Maranjian |
Beware of Redemption Fees There's an almost-reasonable fee funds charge, but don't get caught by it. |
Investment Advisor
April 2008
Melanie Waddell |
12b-1 Headed for an Overhaul After nearly a year of silence, the SEC has decided to revamp 12b-1. |
BusinessWeek
March 8, 2004
Anne Tergesen |
Revealing Redemption Rates Worried that market timers are monkeying with your mutual fund? Here's one way to check for red flags |
