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Tuesday, April 09, 2013

Fundsters Have Wish List for Mary Jo White

News summary by MFWire's editors

It is now official. Mary Jo White has been confirmed by the Senate as SEC chair. [For notable coverage, go to such news outlets as CNNMoney, the New York Times and the Wall Street Journal.

Now that White has been named the country's top securities regulator, a number of industry leaders and experts have outlined to the Wall Street Journal a a wish list of regulatory changes.

For example, Robert Pozen, current Harvard Business School lecturer and former chairman of MFS Investment Management as well as ex-president of Fidelity Investments, wants change in mutual fund taxation.

Mercer Bullard, founder and president of the advocacy group Fund Democracy as well as associate professor at the University of Mississippi School of Law, wants the regulator to strengthen rules for brokers and advisers selling funds.

Meanwhile, Vanguard Group founder John Bogle wants improved disclosure of costs and risks with mutual funds.

Finally, Don Phillips president of Morningstar Inc.'s Investment Research Division told the Journal that he wants the regulator to clean up how funds report their expenses.

Read more on these leaders' regulatory wish list in the Wall Street Journal.  

Edited by: Tommy Fernandez

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