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Wells Fargo Fined for Tardy Fund Prospectuses
May 12, 2011
Last week FINRA announced that it has imposed a $1 million fine on Wells Fargo Advisors, LLC of St. Louis for its "failure to deliver prospectuses in a timely manner to customers who purchased mutual funds in 2009, and for delays in reporting material information about its… read more
Wake Forest Professors Take a Look at Fund Performance Advertising
March 16, 2011
In a recently published paper, Alan R. Palmiter and Ahmed Taha at the Wake Forest University School of Law assert that mutual fund performance advertising is per se misleading to investors, because, despite cautionary language, the mere mention of past performance implies that past high… read more
Schapiro: Pending IM Reforms Will Move Forward
February 08, 2011
In her address before the annual SEC Speaks event in Washington, DC last Friday, SEC Chairman Mary Schapiro outlined the reforms at the agency, as well as some of the budgetary and timing challenges the SEC is facing as a result of deadlines in the… read more
Money Market Fund Portfolio and Pricing Information Open to the Public
February 02, 2011
The SEC has announced that the first filings of the new money market disclosure form, Form N-MFP, containing detailed information that money market funds file with the SEC are now available to the public. Form N-MFP, which is now required to be filed monthly… read more
Forum Files Comments with DOL on Target Date Proposals
January 28, 2011
On Friday, January 14, 2011, the Forum filed its comment letter on the Department of Labor's proposed rulemaking that would expand target date fund disclosures to retirement plan participants. Similar to the rules the SEC recently proposed to expand disclosure in target date marketing materials, these… read more