S.E.C. Outlines Plan for Tighter Control of Mutual Funds

Article Abstract:

SEC chairman William H. Donaldson testified before the Senate's Banking, Housing and Urban Affairs Committee to address what the SEC will do to change how the mutual fund industry handles future stock trading. Under the glare of many revelations and discoveries of improper market timing practices, Donaldson admitted that the SEC did not do enough before the current crisis got out of control. He wants the chairmen and 75% of the board members at mutual fund firms to be independent, to reduce the directors' dependence on fund advisers, and to make the fund companies reveal more information about the fees they charge investors.

Government regulation (cont), Government expenditures, Government regulation, Legal/Government Regulation, Banking, Housing, Urban Affairs, Laws, regulations and rules, Economic policy, Mutual fund industry, Securities trading, United States. Congress. Senate. Committee on Banking, Housing and Urban Affairs, Donaldson, William H.

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Report Finds No Violations At Pentagon By Adviser

Article Abstract:

The DOD Inspector Joseph E. Schmirtz has issued a report clearing Defense Policy Board member Richard N. Perle, claiming he was not in violation of DOD ethics policies when he assisted Loral Space and Communications and Global Crossing in their dealings and interactions with the Pentagon. Because Perle did not serve more than 60 days each year, his actions did not violate any laws. Loral had faced an investigation into allegations that it gave rocket technology to China. Global Crossing sought assistance to diffuse DOD opposition to its merger while it was managing its bankruptcy problems.

Investment Offices, Investment Companies, Open-End Investment Funds, Investment Funds & Trusts, Courts, HOLDING AND OTHER INVESTMENT OFFICES, National Judiciary, Judiciary, Reports, Newspaper publishing, Hollinger International Inc., HLR, United States. Congress. House. Committee on the Judiciary, Perle, Richard N., Conyers, John, Breeden, Richard C., Schmirtz, Joseph E., United States. Department of Defense. Office of the Inspector General, United States. Defense Policy Board, Trireme Partners L.P.

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Directors of Fannie Mae To Discuss Executives' Fates

Article Abstract:

Fannie Mae's chief financial officer, J. Timothy Howard, and chief executive officer, Franklin D. Raines signed off on financial statements that did not comply to standard accounting practice. The positions of both executives are in jeopardy.

Management dynamics, Personnel administration, Mortgage Bankers, Real Estate Credit, Mortgage Bankers and Brokers, Mortgage Bankers & Brokers, Mortgage and Nonmortgage Loan Brokers, Reporting & Disclosure, Capital funds & cash flow, Management, Compensation and benefits, Accounting and auditing, Appointments, resignations and dismissals, FNM, Mortgage banks, Company business management, Financial statements, Federal National Mortgage Association, Raines, Franklin

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