The president of the Investment Company Institute called on the Securities and Exchange Commission to rearm itself next year with tough-minded regulatory agendas aimed at policing the mutual fund industry.

Paul Schott Stevens, president of the ICI, in a speech Wednesday called the unprecedented mutual fund scandals a symptom of deeply rooted problems in need of strong tonic from regulators.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.