The Washington Post is now calling for the House to start an ethic investigation into the actions of Rep. Michael G. Oxley (R-Ohio). The paper has printed allegations that Oxley or his staff has pressured the ICI to name a Republican as its chief lobbyist.

A spokesperson for Oxley has denied the allegations, but the Post has fought back by claiming "Six sources, both Republicans and Democrats who all declined to be identified, said certain members of Oxley's staff have suggested the congressional probe might ease up if the mutual fund trade group complies with their wishes."

Oxley is chair of the House Financial Services capital markets subcommittee. The subcommittee has scheduled a hearing on the issue of fund fees for March 12. Among those set to testify are: Vanguard founder John Bogle and Investment Company Institute chairman Paul Haaga.  

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