The federal government began requiring mutual funds last month to look out for and report suspicious customer activity, The Baltimore Sun reports. Looking to ferret out tax evaders, drug dealers, mobsters, gamblers and terrorists, the government requires firms to file suspicious activity reports (SARs).
But some believe this is an invasion of privacy and that the monitoring will increase fund costs.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.