Tuesday, January 13, 2004
Ethical rot in the Mutual Fund industry
Yawn... More of the same.
Right... "Working with"... No penalties, no fines, no time served .... Say, is "Kenny Boy" Lay in jail yet? Oh, silly me. I forgot he was Bush's largest contributor!
The Securities and Exchange Commission said today it has found widespread evidence of mutual funds companies paying brokers additional compensation for steering investors to their fund shares.
Based on their findings, SEC investigators said they are working with the agency's enforcement staff to review the sales practices at dozens of brokers of and mutual funds to see if they had adequately informed customers of the conflicts of interest.
Right... "Working with"... No penalties, no fines, no time served .... Say, is "Kenny Boy" Lay in jail yet? Oh, silly me. I forgot he was Bush's largest contributor!
