Greenspan, Snow seek Mutual Fund reforms

Federal Reserve Chairman Alan Greenspan and U.S. Treasury Secretary John Snow on Tuesday 18 November, in letters to the heads of the Senate and House committees overseeing the financial services industry who are holding hearings into the industry this week, urged them to keep a few key principles in mind. Those included ensuring disclosure requirements are designed to give investors "real value," that fund fees are "fully subject to the competitive tests of the marketplace."

Source: Reuters