Financial Services Industry
Industry: Email Alert RSS FeedSEC reporting deadline is a big burden.(Monday Morning)
Investment News, October, 2006
Byline: Jim Pavia As the editor of a weekly newspaper, deadlines are my life. If our staff members didn't do their jobs and hit deadlines, InvestmentNews wouldn't publish on time. To be blunt: I can't tolerate missed deadlines. However, as difficult as it is for me to say, I am willing to see one particular deadline missed.
A key Securities and Exchange Commission rule aimed at curbing market-timing abuses in mutual funds is set to go into effect Oct. 16. However, many firms in the mutual fund industry still aren't ready to meet the deadline. The SEC should extend this deadline. By doing so, the SEC would work in shareholders' best interests. In this case, the long-term gains for the shareholders and the mutual fund...
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