Stevens Says Plenty of Blame to go Around

ICI President Paul Schott Stevens said last week that his agency is firmly behind reform in the industry and called on the SEC to "administer strong medicine to prevent trading abuses in the future."

Stevens did not limit his comments to mutual funds, however, calling for regulators to include intermediaries and hedge funds in the reform process. He argued that without cleaning up all the weak links in the chain, the problems won't be solved.