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DAVID SILVER, as a young regulator, helped negotiate the rule that sets the 4 p.m. deadline for fund pricing -- a rule he now agrees is obsolete.
Professor Zitzewitz said last year that despite the arbitrage possibilities inherent in mutual fund pricing, funds were not doing much to correct matters.
An article last Sunday about Eric Zitzewitz, a Stanford professor whose research has aided regulators investigating mutual fund scandals, misstated the given name of a New York University professor who has done research on fund pricing.
Correction: November 23, 2003, Sunday An article last Sunday about Eric Zitzewitz, a Stanford professor whose research has aided regulators investigating mutual fund scandals, misstated the given name of a New York University professor who has done research on fund pricing.
Among her most notable accomplishments were the institution of a policy requiring some companies to admit wrongdoing when they settle cases with the SEC, and new rules that upended money market mutual fund pricing and aim to reduce systemic risks by asset managers.
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[C2.] Some Fund Prices Not Available Because of transmission errors, some mutual fund prices were not available at press time.
Fund prices are usually fixed at the end of the previous trading day.
For decades, investors have expected money market fund prices to remain fixed at $1 a share.
Each day, newspapers report mutual fund prices, giving investors an instant score card on their funds' performance.
That produces the net asset value per share -- the daily fund price that is printed in newspapers.
The other technique involves quick trades that take advantage of inefficiencies in setting an accurate mutual fund price.
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