The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Financial Reform Tweaks Remain to Satisfy the ICI Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 24, 2010

Financial Reform Tweaks Remain to Satisfy the ICI

News summary by MFWire's editors

The Investment Company Institute (ICI) has its case for tweaks to the financial services reform bill broadcast in the WSJ Fund Track. Reporter Daisy Maxey reports that the ICI's Paul Schott Stevens is pushing to improve several issues that could "adversely affect mutual funds and their investors."

That concern remains despite attempts by Massachusetts legislators Senator Scott Brown and Rep. Barney Frank to add clarifying language to the bill that firms will not be more heavily regulated merely due to their size.

Among those are "unworkable forms of bank-like regulation" for mutual funds that are found to be a "source of systemic risk." (Not a foregone conclusion, but still a possibility for some of the largest money funds.

Stevens also points out that funds that are creditors of nonbank financial companies being liquidated under the bill may receive disparate treatment by the Federal Deposit Insurance Corp. or that repurchase agreements would not be promptly enforceable.

The paper also quotes consultant Geoff Bobroff as stating that the mutual fund industry "is likely concerned about its investments in financial-services companies."

Still, it may be what is not yet known about how the bill will effect the market that could reshape the mutual fund industry itself several industry sources have told the MFWire.com. 

Edited by: Sean Hanna, Editor in Chief

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use