National News: (US) Mutual controversy
A recent ruling from the US Securities and Exchange Commission stated the need for the boards of mutual funds to be headed by independent chairmen. Diane Ambler discusses the reasoning behind the proposals and gauges reaction to the developments
The battle lines have been drawn. In a fairly uncharacteristic public display of inside-thebeltway politics, the US Securities and Exchange Commission (SEC) has dug in its heels, as has the US Chamber of Commerce, the nation’s largest federation of business companies and associations, which is professing to represent interests of mutual funds and their investors.
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