New Canadian Mutual Fund Rules Shy on Testosterone

Date: Friday, January 9, 2004

According to a Globe and Mail article today, Securities regulators in Canada revealed suggested governance regulations for mutual funds that investor advocates say have been watered down to make them more industry friendly and do not go far enough to protect ordinary Canadians. Investor advocates have argued for several years that Canada should follow the United States, which for well over a decade has required mutual funds to report to a board of directors. They say the need is even more pressing in the wake of trading abuses in the United States uncovered by regulators and law enforcers, led by New York State Attorney-General Eliot Spitzer.