Abstract
The background to this study is recognition of the failure of mutual fund independent directors to fulfill their obligations as “shareholder watchdogs” under the Investment Company Act of 1940. This article presents reasons for the failure, as well as a discussion of U.S. District Judge Feess’ opinion in a mutual fund case dealing with excessive fees. The author believes that, in order to achieve normative transparency of information, independent directors and advisers of major funds known for shareholder stewardship must strongly, vigorously, and proactively work together to gain approval in Congress and/or the SEC. <b>TOPICS:</b>Mutual fund performance, information providers/credit ratings, manager selection
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
