Mutual funds in the news with this from the WashingtonPost.com–“Mutual Funds to Disclose Timing Policies“:
Mutual fund companies must disclose to shareholders their policies on the practice of market timing that is at the heart of many of the cases in the industrywide scandal, federal regulators decreed Tuesday. The five-member Securities and Exchange Commission voted to formally adopt rules requiring the fund companies to detail their market-timing policies in sales material and other documents given shareholders. . .The final rule backed off a plan to require detailed disclosure of efforts to police timing. Some major fund companies, including Fidelity Investments and T. Rowe Price Group Inc., had argued in written comments that the rule would provide a “road map” to those who wanted to evade detection.
From the St. Louis Post-Dispatch, “Some changes in 401(k) rules could avert disaster at 65“:
The creation of the 401(k) plan was perhaps the most revolutionary change in the American financial system in the past quarter-century. It has given millions of workers a way to finance their own retirements. But it also has led to missteps that weren’t possible in the earlier era of company-funded pensions.