search query: @indexterm SECURITIES AND EXCHANGE COMMISSION / total: 43
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| Author: | Hoffman, W.M Neill, J.D Stovall, O.S |
| Title: | Mutual fund compliance officer independence and corporate governance |
| Journal: | Corporate governance
2008 : JAN, VOL. 16:1, p. 52-60 |
| Index terms: | funds business ethics securities and exchange commission |
| Freeterms: | mutual fund ownership, SEC, chief compliance officer, SEC rule 38a-1 |
| Language: | eng |
| Abstract: | The paper surveys recent Security and Exchange Commission regulations (SEC Rule 38a-1) that are intended to increase the independence of mutual fund compliance officers. The purpose of the survey is to provide an in-depth discussion of the types of illegal activities that have occurred in the mutual fund industry and analyze the new SEC regulations aimed to hold back such unethical activities in an attempt to determine whether the regulations are working as planned and explore the implications of the new SEC regulations for corporate governance. The survey was made through unrecorded phone interviews with four mutual fund compliance officers and two board members. To conclude, all the interviewees supported the Rule 38a-1 and the changes brought on by the rule in the United States. The Rule 38a-1 has resulted in greater CCO independence in the mutual fund industry and thereby enhanced mutual fund board of directorsÂ’ ability to govern. |
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