The mutual fund industrys chief lobby group has sent a letter to a committee of
The letter was sent by the
Saying that such issues are "especially important" in the wake of Houston energy trader Enrons bankruptcy, in which scores of Enron employees lost millions in their Enron-stock-heavy 401(k)s, the ICI suggested that more strict standards should be imposed on stock option plans to safeguard the interests of all shareholders.
The ICI said that the increasing popularity of stock option plans has the potential to dilute the value of the shares of other stockholders. To help resolve the problem, the organization recommended that the NYSE require that shareholders "have an opportunity to vote on all stock option plans and plan amendments."