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Mercer Bullard is the founder of Fund Democracy, a shareholder advocacy group that he started last year. Bullard is a former assistant chief counsel in the SEC's division of investment management and worked in the investment management practice of Wilmer, Cutler & Pickering, a law firm in Washington D.C. Bullard's group has aligned with the AFL-CIO, the Consumer Federation of America and other groups in an effort to increase portfolio disclosure. In an interview with Mutual Fund Market News reporter Andrew Greene Bullard discussed the industry and his plans for Fund Democracy. An edited version of their conversation follows.

MFMN: What inspired you to begin a shareholder advocacy group?

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