Senate Nears Verdict on Soft Dollars
INDUSTRY FOCUS
The Senate Committee on Banking, Housing and Urban Affairs held a hearing last week on soft dollar practices, in the wake of suggestions that they be banned.
The committee met on Wednesday, March 31 to review current investigations and regulatory actions of the mutual fund industry related to fund costs and distribution practices. The hearing addressed some of the issues raised in last December’s SEC concept release. At that time, the SEC requested comments on measures to improve disclosure of
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