Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fidelity Airs Views to SEC Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, March 12, 2003

Fidelity Airs Views to SEC

by: Sean Hanna, Editor in Chief

Fidelity Investments is unhappy with fund firms disclosing fund information to consultants and other third parties ahead of their regulatory filings. The Boston Behemoth is concerned enough about the issue that it sent a letter to the SEC dated February 27 expressing its views on the matter, reported the Boston Herald this morning.

The letter stated that the disclosure of data to insiders, consultants and other third parties prior to disclosure to the general public creates opportunities for front running of the funds.

"As mutual funds' assets have grown, the potential profits to be made by trading against mutual funds - at the expense of fund shareholders - have grown as well. Because of the potential for harm to shareholders with little clear benefit, we believe disparate disclosure of holdings information is rarely justified," read the letter as published in the paper.

The missive appears to be a response the growing call for funds to disclose their portfolios more than twice a year. Fidelity already releases it top holdings on a monthly basis with a delay. It would prefer that if funds were mandated to release portfolio data on a quarterly basis, that they only be required to disclose their top holdings rather than the portfolio in its entirety. Fidelity is also seeking a requirement that funds be required to delay the disclosure for a minimum period of time.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use