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A1 A Bill to Curb Fund Abuse The House of Representatives approved legislation to deter trading abuses and fund mismanagement by improving the disclosure of fee information and increasing the independence of fund boards.
Responding to the spate of mutual fund scandals, the House of Representatives overwhelmingly approved legislation on Wednesday aimed at deterring trading abuses and fund mismanagement, improving the disclosure of fee information and increasing the independence of fund boards.
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Full disclosure of fees is the logical place to start.
"One thing the S.E.C. should do is require full disclosure of fees," he said.
Consumer lawyers have pushed for greater disclosure of fees and more stringent regulation of the card providers.
That appears to be the airlines' goal, although the government may step in and require clearer disclosure of fees.
One of the last compromises dealt with whether there would be a separate disclosure of fees paid for tax work.
One improvement that the center's officials have sought is the disclosure of fees earned by consultants.
Among the compromises reached was one to require greater disclosure of fees for audit and consulting work.
Disclosure of fees is only required when a board is advised on compensation by a consultant who also advises the company on other benefits.
One bill requiring more disclosure of fees and other regulatory changes has been passed by the House of Representatives; two more have been introduced in the Senate.
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