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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About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.