MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, February 25, 2004 SEC Says Complaint Levels Fell Pre-Canary The number of complaints made to the SEC during its 2003 fiscal year fell 14 percent from 2002. However, the SEC fiscal year ends in September, the same month in which the first allegations surfaced against Canary Capital and six fund firms. Data on the number of complaints since the scandal broke was not released along with the 2003 figures. All counted, the SEC's investor assistance staff received 70,574 complaints and questions between the beginning of October 2002 and the end of September 2003. While overall complaints were higher, many of the most common grievances decreased. Concerns about misrepresentations and unsuitable recommendations were down, for example. On the other hand, complaints about fees, commissions, and administrative costs rose 7 percent. Printed from: MFWire.com/story.asp?s=6731 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |