House Passes Mutual Fund Overhaul Bill

[Socialist Christian]

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20031119/bs_nm/financial_fund_passage_dc


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WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday approved legislation aimed at reforming the $7 trillion mutual fund industry with measures against recently uncovered trading abuses



Insiders would be prohibited from short-term trading of their own fund shares, and investors could not place trading orders after 4 p.m. Eastern time, when fund prices are typically set.


Daily revelations of abuses in the investment pools used by 95 million investors spurred bipartisan support for the bill. But it is unclear how soon the measure can be reconciled with mutual fund proposals that have yet to reach the Senate floor.

[cthrumatrix]

1. next step...look into 911 insider trading options vs. airlines....

their reply.......YIKES...we can't touch that

[cthrumatrix]

2. next step...look into 911 insider trading options vs. airlines....

their reply.......YIKES...we can't touch that

[The Backlash Cometh]

3. That was pretty quick considering that the public didn't know the

extent of the damage until this month. What does that tell ya?