SEC Launches New Mutual Fund Probe

The Securities and Exchange Commission recently launched an investigation into 27 mutual fund companies’ alleged fraudulent arrangements with mutual fund administrative-service provider Bisys BSG, according to a report in the Oct. 26 edition of The Wall Street Journal.

I’m glad to see more action being taken on fund companies that misuse funds paid for by investors. Morningstar discusses the situation and explains what action is being taken. This article also outlines some fund changes recently announced and talks about the benefit the world’s number-one chewing gum company, Wm. Wrigley Jr. WWY is having on the funds that hold it.

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