To report or not to report
From CBS Marketwatch.com
Everyone may be having a good time at the ICI convention in Washington, but there's at least a little dissension in the ranks. Last Wednesday, several fund industry executives sent a letter to ICI president Matthew Fink, pushing a new policy of quarterly or monthly holdings reporting. In a responding letter, Fink disagreed, saying that the current policy of semi-annual reporting was "appropriate." He added that those seeking increased reporting are welcome to submit the issue at the next meeting of the ICI rules committee.

Campaign finance fracas
From Morningstar
Surprise! Mutual fund companies are against proposed rules that would limit their ability to make campaign contributions. The rules are designed to prevent undue influence in obtaining contracts to manage government pension plans. Fund industry representatives say they want to curb abuses, but that the proposed rules are too broad because they would target anyone connected to an investment-advisory firm, whose political contributions could be seen as an inducement for business even if donations were made innocently. They also said that the proposed two-year ban on business is too harsh a penalty for making contributions in return for contracts. The rules are subject to approval by the SEC.

Take that, frequent traders
From TheStreet.com
As of June 1, TIAA-CREF will institute new policies to prevent frequent trading in retirement accounts. Under the new rules, participants who make more than three transfers in one month will be warned that their trading activity is too high. If they continue to trade at that pace, their Internet and phone-transfer privileges will be suspended, forcing them to trade via snail mail. The firm admits that the problem is relatively small, and the limitation is probably a formality to cool off a few gunslingers. But with more of the nation's 15 million public employees moving their assets into DC plans, it's an issue that probably won't go away.  

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