Top executives and financial officers at mutual fund companies will have to certify the financial reports that they file with the
In doing so, the commission essentially interpreted the anti-corporate fraud legislation President Bush signed into law in July, known as the Sarbanes-Oxley Act, to apply to fund companies.
Executives must certify the accuracy of any required shareholder report or information regarding a companys disclosure procedures, as well as any other certifications mandated by the Sarbanes-Oxley legislation, the SEC said.
The SEC also said that all registered investment companies will be required to regularly evaluate disclosure procedures to ensure that financial reports are issued in a timely fashion.
