Money Management Executive Latest News

At the same time mutual funds are scurrying to meet new regulatory requirements by Oct. 5, the National Investment Company Service Association (NICSA) is about to start a survey of compliance practices. NICSA is conducting the survey in partnership with Diversified management Resources, and it is sponsored by PA Compliance, SalesLink Corporation and PFPC.

The Securities and Exchange Commission Wednesday banned directed-brokerage arrangements as a means for mutual funds to promote or sell fund shares.

Janus Capital Management settled with the SEC Wednesday for its market-timing arrangements, agreeing to pay a total of $100 million, $50 million of it in disgorgement and $50 million in penalties. Janus also agreed to a cease-and-desist order and agreed to reform its compliance and governance.

Facing a tough market environment, greater regulatory scrutiny and rising costs as a result of new rules, more mutual funds are closing their doors these days, The New York Times reports. In the past two weeks, the WWW Internet, Growth Flex, Market Opportunities and Oakmark Small Cap funds have all decided to shut their doors.

Hedge funds had their fifth consecutive period of record net inflows in the second quarter, according to a report released Monday.

In a new study, FRC predicts new SEC regulations will lead to a major shakeup for the mutual fund industry

The SEC received a formal request to postpone the deadline for comments on new hedge fund regulations to Oct. 28 from Sept. 15. Influential hedge fund providers and business interests have lobbied the Commission for an extension on an expected ruling to increase the amount of regulatory oversight for hedge fund advisors, Dow Jones Newswires reports.

The Securities and Exchange Commission is expected to vote Wednesday on a controversial proposal banning directed brokerage, the common practice of mutual fund providers steering trading business to brokerage firms that push the companies' investments, The Washington Post reports.

Following the Mutual Fund Directors Forum’s "best practices" could spell a bad reality for investors, a letter to the Securities and Exchange Commission from several independent research firms representing investors suggested.

For its alleged part in a market-timing scheme, Van Eck Associates, which advises the Van Eck Funds, may be facing Securities and Exchange Commission charges, the company indicated in an SEC filing.