|
|
|
|
In many ways, yes they are. Thanks to Eliot Spitzer's crusade and only because of it, the industry has reformed itself into a much more transparent investment - although far too many investors do not understand what this is - with better disclosures. Transparency is the ability for the shareholder to see what activities their fund is engaged in. This disclosure came with a fight from the industry and that is sad. With over $7 trillion in investor dollars tied up in this all important investment, the folks that run these funds should have been more upfront from the beginning.
But it is a beginning. There is increased scrutiny for conflicts of interest and the potential for abuses stemming from sales commissions. Directors of these funds need these new regulations to do what they failed to do according to the Investment Company Act of 1940. When it comes to your money, any and all added compliance is worth it. [ Close Window ] This site and all its contents are copyright 1998-2004 by Paul Petillo/Editor/BlueCollarDollar.com. All Rights Reserved. |