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Purpose and Services
This page was last updated on December 21, 2000. Articles about Fund Democracy Activist Bullard Eyes Congress as Way to Sway SEC, Fund Action (Dec. 18, 2000). Abstract: Fund Action here discusses the views of Mercer Bullard, founder and CEO of Fund Democracy, of the possible role of Congress in promoting mutual fund regulatory reform in 2001. Noting that a Republican (Congressman Paul Gillmor, R-OH) led Congress's effort to urge the SEC to mandate disclosure of after-tax mutual fund performance, Bullard believes that mutual fund issues are bipartisan in nature and will attract support from both ends of the political spectrum. The breadth of support for the ongoing portfolio disclosure initiative exemplifies the bipartisan support for reform. While the article might give the impression that Bullard views Congressional action as investors' best hope for regulatory reform, he believes that the SEC is in a better position to weigh the merits of industry and investor arguments and develop specific rulemaking proposals. Some proposals may require Congressional action however, such as when the SEC lacks the legal authority to accomplish an objective. |