As part of its reform of mutual fund rules, the S.E.C. is recommending that managers disclose whether they also run hedge funds.
Yahoo's bid for an exemption from mutual fund rules could affect other Web companies because Yahoo argues it primarily has strategic stock holdings made to cement relationships with business partners, expand its offerings, and develop new products or services.
The European and American officials said that they would consult on such topics as mutual fund rules -- noting that some companies sell funds in numerous countries -- and the structure of stock markets, where both the S.E.C. and the European regulators are considering changes.
Fears of illiquidity and leverage are calmed by mutual funds' rules on both.
A change in mutual-fund rules applicable across the EU, known as UCITS III, has meant that hedge-fund practices are also available to retail investors.
For its part, the SEC has launched its own investigations and promises to unveil new mutual-fund rules later this month.But the industry may not, in fact, need a raft of new rules so much as better enforcement of the existing rules, and more active monitoring.
The Securities and Exchange Commission must for a second time review mutual fund governance rules pushed through by outgoing SEC Chairman William Donaldson, giving successor Christopher Cox a chance to revisit regulation of the $8.6 trillion industry, a federal appeals court held.
Whether the account is for check writing, stock trading or mutual funds, the rule of thumb in the financial services industry is that it costs as much to service a $100,000 account as a $1 million account.
Many institutional investors, like mutual funds, have rules barring them from buying municipal bonds with less than a triple-A credit rating.
