SEC is turning its attention to fund directors

03/25/2013 | Wall Street Journal, The

The Securities and Exchange Commission is pursuing action against the former directors of Morgan Keegan mutual funds, a decision that experts say might be indicative of an increase in regulatory scrutiny at the fund-director level. The decision to target Morgan Keegan directors should be a "significant deterrence message ... to the industry," said the SEC's asset-management enforcement head, Bruce Karpati.

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Wall Street Journal, The

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