Regulation

For the first time, an SEC judge has set some limits on what expenses a mutual fund can include as part of its Rule 12b-1 fee.

The mutual fund industry has been slow to adopt the summary or "profile" prospectus in part because of a desire to make salespeople indispensable.

The Securities and Exchange Commission has added a calculator to its website that allows investors to determine the total costs of investing in any given mutual fund.

SEC examiners have begun informally questioning mutual fund companies on what their funds spend and receive for executing securities trades.

A recent agreement struck between "Big Five" accounting firm Deloitte & Touche and the SEC has captured the attention of both the accounting and mutual fund industries. At issue is just how far removed members of an accounting firm chosen to audit specific mutual funds must be to protect objectivity and maintain true independence.

A series of legal challenges to the mutual fund industry's system of independent directors has suffered another setback.

PALM DESERT, Calif. The SEC will scrutinize the business relationships of mutual fund accountants as part of a larger effort intended to strengthen the independence of fund directors.

PALM DESERT, Calif. The SEC is considering proposing that mutual funds be required to disclose more than they currently do about the effect of taxes on investment performance.

The SEC is proposing to shut down transfer agents for mutual funds which have not solved serious year 2000 computer problems by Oct. 15.

Mutual fund companies could be required to disclose the impact of taxes on portfolio returns, if a bill that has been introduced in the U.S. House of Representatives passes. Congressmen Paul Gillmore (R-Ohio) and Edward Markey (D-Mass.) introduced a bill, the Mutual Fund Tax Awareness Act of 1999, on March 11.