US - The Securities and Exchange Commission (SEC) has admitted culpability for the market timing scandal that has stricken the mutual fund industry and promised a fresh approach which should include new regulations.
William Donaldson, SEC chairman, told the US Senate committee on banking, housing and urban affairs: “For too long, the Commission has found itself in a position of reacting to market problems, rat...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date