SEC vote heralds sweeping fund-industry change
Article Abstract:
The United States Securities and Exchange Commission (SEC) offered its support to rules that require more independence from mutual oversight board and have in turn started the trend for making major changes to the manner in which the fund-industry is operated on June 23, 2004. The boards of trustees that look after the fund investors should be headed by outside directors as per the commission.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Certified Corporate Meltdown
Article Abstract:
Bankruptcy News report that a case filed by Philadelphia based DVI for bankruptcy protection in August 2003 is the 13th largest case in the nation in 2003. R. Todd Neilson, an examiner hired by the Bankruptcy Court to investigate DVI's failure reported that company executives not only hid losses but also obtained loans from its bank but using desperate and illegal methods.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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