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The other potential reform would require fund managers to put aside an insurance buffer of capital that could be used to absorb losses.
The most far-reaching of the S.E.C. staff proposals would require fund management companies to register with the commission under the Investment Advisers Act of 1940.
One idea being pushed by Mr. Baker would require fund companies to inform investors, on their account statements, of their share of the fees paid by the funds they own.
It would require fund executives to submit a report to the directors each year describing so-called soft-dollar arrangements in which funds direct orders to brokerage firms in exchange for research and other services.
One salutary measure in the House bill is that it would require fund managers to disclose their holdings in their own funds.
It would require fund vendors to boil down fund essentials including risks to an easily digestible summary that appears on its own or at the front of a prospectus.
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A third proposal would require funds to have a buffer of 3 percent to absorb losses.
"The proposal would require funds to disclose information that investors have never had access to before," Mr. Champ said.
New S.E.C. regulations would require funds' directors to defend their work to shareholders, as well as to the commission.
The Local Government Association, representing councils that house refugees, said any extra children would require funding, and possibly a national reception scheme.
Getting it up and running would cost about $100 million and would require funds from a variety of sources, including the federal government, research grants and private investment.
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