Mutual fund proposals may spur tech uptake

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NEW YORK – Mutual funds may have to make more technology implementations if legislation introduced by the US House of Representatives’ financial services committee becomes law. The bill, proposed last month, is intended to improve mutual funds’ disclosure, transparency and corporate governance practices.

The Mutual Funds Integrity and Fee Transparency Act of 2003 (HR 2420) effectively expands provisions of the Sarbanes-Oxley Act that are currently applied to listed organisations, to mutual funds.

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