Download or read book Mutual funds assessment of regulatory reforms to improve the management and sale of mutual funds written by and published by DIANE Publishing. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mutual Funds written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-21 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual Funds: Assessment of Regulatory Reforms to Improve the Management and Sale of Mutual Funds
Download or read book Mutual Funds written by David Michael Walker and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mutual Funds Assessment of Regulatory Reforms to Improve the Management and Sale of Mutual Funds written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gao 04 533t Mutual Funds written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-28 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-04-533T Mutual Funds: Assessment of Regulatory Reforms to Improve the Management and Sale of Mutual Funds
Download or read book The Economics of Mutual Fund Markets Competition Versus Regulation written by William Baumol and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The original impetus for this research was provided several years ago by a request to assist Counsel for Fidelity Management and Research Corporation in analyzing the mutual fund industry, with particular emphasis on money market mutual funds. We were asked to focus our efforts on the mechanism by which the advisory fees of mutual funds are determined. This request arose out of litigation that challenged the level of advisory fees charged to the shareholders of the Fidelity Cash Reserve Fund. Subsequently, we were asked to provide similar assistance to Counsel for T. Rowe Price Associates regarding the fees charged to shareholders of their Prime Reserve Fund. 1940, advisers of Under the Investment Company Act of mutual funds have a fiduciary duty with respect to the level of fees they may charge a fund's shareholders. Since the passage of the Investment Company Act, there have been numerous lawsuits brought by shareholders alleging that advisory fees were excessive. In these lawsuits, the courts have failed to provide a set of standards for determining when such fees are excessive. Instead, they have relied on arbitrary and frequently ill-defined criteria for jUdging the reasonableness of fees. This failure to apply economic-based tests for evaluating the fee structure of mutual funds provided the motivation for the present book, which undertakes a comprehensive analysis of the economics of the mutual fund industry.
Download or read book Mutual Funds written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2005 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulation of Money Managers written by Tamar Frankel and published by Wolters Kluwer. This book was released on 2015-09-16 with total page 4826 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Regulation of Money Managers (with the original subtitle: The Investment Company Act and The Investment Advisers Act) was published in 1978 and 1980. The Second Edition, subtitled Mutual Funds and Advisers, was published in 2001 and has been annually updated since then. It is a comprehensive and exhaustive treatise on investment management regulation. The treatise covers federal and state statutes, their legislative history, common law, judicial decisions, rules and regulations of the Securities and Exchange Commission, staff reports, and other publications dealing with investment advisers and investment companies. The treatise touches on other financial institutions such as banks, insurance companies, and pension funds. The work also discusses the economic, business, and theoretical aspects of the investment management industry and their effects on the law and on policy. The treatise contains detailed analysis of the history and development of the Investment Company Act and the Investment Advisers Act. It examines the definitions in the Acts, including the concept of ‘‘investment adviser,’’ ‘‘affiliates,’’ and ‘‘interested persons.’’ It outlines the duties of investment company directors, the independent directors, and other fiduciaries of investment companies. The treatise deals with the SEC’s enforcement powers and private parties’ rights of action.
Download or read book Research Handbook on the Regulation of Mutual Funds written by William A. Birdthistle and published by Edward Elgar Publishing. This book was released on 2018-10-26 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: With fifty trillion in worldwide assets, the growth of mutual funds is a truly global phenomenon and deserves a broad international analysis. Local political economies and legal regimes create different regulatory preferences for the oversight of these funds, and academics, public officials and legal practitioners wishing to understand the global investing environment will require a keen awareness of these international differences. The contributors, leading scholars in the field of investment law from around the world, provide a current legal analysis of funds from a variety of perspectives and using an array of methodologies that consider the large fundamental questions governing the role and regulation of investment funds. This volume also explores the identity and behavior of investors as well as issues surrounding less orthodox funds, such as money market funds, ETFs, and private funds. This Handbook will provide legal and financial scholars, academics, lawyers and regulators with a vital tool for working with mutual funds. Contributors include: W.A. Birdthistle, M. Bullard, I.H-Y Chiu, B. Clarke, Q. Curtis, D.A. DeMott, J. Fanto, J.E. Fisch, P. Hanrahan, L.P.Q. Johnson, W.A. Kaal, A.K. Krug, A.B. Laby, J.D. Morley, A. Palmiter, I. Ramsay, E.D. Roiter, M. White, D.A. Zetzsche
Download or read book Reforming the Taxation and Regulation of Mutual Funds written by Coates, IV (John C.) and published by . This book was released on 2009 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most Americans invest through mutual funds. A comparison of US tax and securities law governing mutual funds with laws governing other collective investments, in both the US and in the EU, shows: (a) the US fund industry continues to be the world leader, but now lags domestic and foreign competitors, primarily because of US tax and securities law; (b) mutual funds are taxed less favorably and regulated more extensively in the US than direct investments or other collective investments, including alternatives available only to wealthy investors; (c) the structure of US regulation - numerous proscriptive bright-line rules written nearly 70 years ago, subject to SEC exemptions - makes success of US mutual funds dependent on the resources, responsiveness and flexibility of the SEC; (d) while the high-level formal framework for mutual funds in the EU is as or more restrictive and inflexible in most respects than the Investment Company Act, competitive pressures in the EU constrain supervisors in EU countries to be more flexible in adopting implementing regulations, and EU regulators have greater resources and are more responsive than the SEC, which could achieve the same flexibility and responsiveness through exemptive orders but has been unwilling or unable to do so in a timely fashion. The paper discusses a number of reforms to improve the treatment of middle class investments, including improvements in mutual fund taxation, ways to enhance the flexibility and resources of US fund regulators, modifications of the existing ban on asymmetric advisor compensation and the exclusion of foreign funds, and unjustified disparities in the treatment of mutual funds and mutual fund substitutes.
Download or read book Mutual Fund Advertising written by Government Accountability Office and published by . This book was released on 2017-08-17 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Mutual funds are one of the most widely held investment products by Americans and advertising is one method by which investors may obtain information on funds. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires GAO to conduct a review of mutual fund advertising, focusing on the advertising of past performance information. This report examines (1) what is known about the impact of fund advertisements on investors, (2) the extent to which performance information is included in advertisements, and (3) the regulatory requirements for fund advertisements and how they are administered and enforced. To address these objectives, GAO reviewed existing and proposed Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) rules, conducted a literature review of studies related to mutual fund advertising's impact on investors, and reviewed a random sample of 300 fund advertisements. GAO also met with regulators, fund companies, academics, and industry and investor protection groups."
Download or read book Mutual Funds written by John A. Haslem and published by . This book was released on 2017 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The PDF file includes the forthcoming book's table of content. When the financial history of the United States is written, one chapter will necessarily be dedicated to mutual funds. This industry has been and continues to be one of the extraordinary growth stories in the history of American financial markets. Today, 96 million individual investors in 55 million households own mutual funds, representing 87 percent of total fund assets. In 1984, net fund assets totaled $370 million, and today they are $10.4 trillion. Several major forces explain most of this growth, but the first and essential force has been the demonstrated effectiveness of mutual funds as vehicles for providing individual investors with retirement incomes and financial wealth. Mutual funds provide individual investors (and all other investors) with investment performance and investment alternatives, objectives, and services traditionally reserved for institutional and large individual investors. Nonetheless, mutual funds also have numerous shortcomings in their management and regulation that could be removed through stewardship of fund management, increased investor knowledge, and more investor friendly fund regulation. This book brings together some of the finest minds in academia, investment management, and mutual fund management to discuss the nature and pros and cons of mutual funds. The focus explores mutual funds as investment vehicles, and the approaches that will further improve and lessen the often hidden pitfalls of fund investing. The result is an improved source of learning for university students, and an increased ability of informed investors to make fund decisions that will make the experience much more rewarding, and even simpler.
Download or read book Avoiding Runs in Money Market Mutual Funds written by Sean Collins and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since their inception in the early 1970s, money market mutual funds have been relatively safe investments. Indeed, the money fund industry itself has noted that no investor has ever lost a dollar in a money market fund. Nevertheless, money funds have been buffeted by a series of defaults on commercial paper backing their assets. These losses would have been passed on to money fund investors, but stockholders of the management firms advising these money funds absorbed the losses. Given such difficulties, some industry experts viewed money funds as susceptible to runs--large-scale withdrawals--that could precipitate macroeconomic shocks. To reduce risks to unwary investors, in 1991 the Securities and Exchange Commission tightened the rules under which money market funds operate. This paper uses panel data on over 200 money funds to examine the effects of these regulatory changes on money funds. We find that these changes did in fact reduce the riskiness of money funds, but, at the same time, drove down their yields by an average of about 10 basis points. The new rules also significantly prevented some money funds from extending their average maturities over months that saw the steepest yield curve in recent history. Another group of funds were able to offset some of the new, tighter provisions of the Rule by extending their average maturities beyond their previous preferred level. Finally, the amendments had disparate effects; money funds that held mostly commercial paper were hardest hit, while those that held mostly short- term Treasury securities were little affected.
Download or read book Investment Company Act Release written by United States. Securities and Exchange Commission and published by . This book was released on 1967 with total page 974 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Review of Current Investigations and Regulatory Actions Regarding the Mutual Fund Industry written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2004 with total page 1132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mutual funds SEC should modify proposed regulations to address some pension plan concerns report to the Subcommittee on Oversight Committee on Ways and Means House of Representatives written by and published by DIANE Publishing. This book was released on with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investment Climate Reforms written by World Bank World Bank and published by World Bank Publications. This book was released on 2015-11-02 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private firms are at the forefront of the development process, providing more than 90 percent of jobs, supplying goods and services, and representing a significant source of tax revenues. Their ability to grow, create jobs, and reduce poverty depends critically on a well-functioning investment climate--defined as the policy, legal, and institutional arrangements underpinning the functioning of markets and the level of transaction costs and risks associated with starting, operating, and closing a business. The World Bank Group has provided extensive support to investment climate reforms. This evaluation by the Independent Evaluation Group (IEG) assesses the relevance, effectiveness, and social value of World Bank Group support to investment climate reforms as it relates to concerns for inclusion and shared prosperity. IEG finds that the World Bank Group has supported a comprehensive menu of investment climate reforms and has improved investment climate in countries, as measured by number of laws enacted, streamlining of processes and time, or simple cost savings for private firms. However, the impact on investment, jobs, business formation, and growth is not straightforward. Regulatory reforms need to be designed and implemented with both economic and social costs and benefits in mind; IEG found that, in practice, World Bank Group support focuses predominantly on reducing costs to businesses. In supporting investment climate reforms, the World Bank and the International Finance Corporation use two distinct but complementary business models. Despite the fact that investment climate is the most integrated business unit in the World Bank Group, coordination is mostly informal, relying mainly on personal contacts. IEG recommends that the World Bank Group expand its range of diagnostic tools and integrate them in the areas of the business environment not yet covered by existing tools; develop an approach to identify the social effects of regulatory reforms on all groups expected to be affected by them beyond the business community; and exploit synergies by ensuring that World Bank and IFC staff improve their understanding of each other's work and business models.
