Mutual Fund Trading Abuses: Lessons can be Learned from SEC Not Having Detected Violations at an Earlier Stage

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Our Price: $20.00

Year: 2005
Pages: 47
Binding Paperback

Product Code: 0756748267

Description

Richard J. Hillman (au); Wesley M. Phillips (au). Recent violations uncovered in the mutual fund (MF) ind. raised questions about the ethical practices of the industry & the quality of its oversight. A widespread abuse involved MF co. invest. advisers (firms that provide mgmt. & other serv. to MF) entering into undisclosed arrange. with favored cust. to permit market timing (frequent trading to profit from short-term pricing discrep.) in contravention of stated trading limits. These arrange. harmed long-term MF shareholders by increasing costs & lowering fund returns. This report: identifies the reasons that SEC did not detect the abuses at an earlier stage & the lessons learned in not doing so; & assesses the steps that SEC has taken to strengthen its MF oversight prog. & improve MF co. oper. Tables.

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