Regulation

WASHINGTON — The Treasury Department extended its $3 trillion temporary guarantee program for money market mutual funds through Sept. 19 to provide continued reassurance for investors.

PALM DESERT, Calif. - Andrew Donohue, director of the Securities and Exchange Commission's Division of Investment Management, said Monday that he doesn't think the SEC will push for changes to rule 12b-1 govering mutual fund fees this year.

A last-minute Bush administration regulation that would permit advice in 401(k) plans was called into question Tuesday by a number of consumer advocates and other experts who testified before the House Committee on Education and the Workforce.

PALM DESERT, Calif. - The United States is determined to show the world it is leading global economic recovery efforts, even if that means creating what some in the industry view as risky new risk regulators.

PALM DESERT, Calif. - Having exhausted their multimillion-dollar, class-action claims against big tobacco companies, the nation's top trial lawyers are now turning their attention to the mutual fund industry.

Testifying before the Senate Banking Committee on Thursday, Securities and Exchange Commission Chairman Mary Schapiro vowed to impose stricter regulations on a broad array of securities and practices, including money market funds, whose holdings would adhere to stricter credit quality, maturity and liquidity standards.

A last-minute Bush administration regulation that would permit advice in 401(k) plans was called into question Tuesday by a number of consumer advocates and other experts who testified before the House Committee on Education and the Workforce.

Target-date funds continue to take the heat for buckling under the pressures of the market’s decline.

PIMCO and BlackRock are two of the first mutual fund companies to sign up for the Treasury Department’s new program to purchase troubled assets—PIMCO as both a buyer and manager of debt and BlackRock only as a manager. Other fixed-income fund shops are likely to sign up as well, Geoff Bobroff of Bobroff Consulting told Dow Jones.

FINRA has fined 25 broker/dealers for failure to complete self-assessments related to providing mutual fund breakpoints between 2001 and 2002.