Updating Other Regulation

Matthew P. Fink

in The Rise of Mutual Funds

Second edition

Published in print January 2011 | ISBN: 9780199753505
Published online January 2012 | e-ISBN: 9780199918805 | DOI:
Updating Other Regulation

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As earlier chapters have made clear, mutual funds not only are subject to Securities and Exchange Commission regulation under the federal securities laws but also they must meet requirements imposed by other bodies of law. The vast changes in the mutual fund industry that occurred during the bull market of 1982–2000 led the industry to seek changes in state securities laws, federal tax law, and federal pension law. Against all odds, the industry obtained federal legislation ending the state regulation of mutual funds. The industry was also successful in obtaining some degree of modernization of provisions of the Internal Revenue Code dealing with mutual funds. However, federal pension law and regulation were not updated to take account of the major shift from defined benefit plans to 401(k) and other types of defined contribution plans.

Keywords: mutual fund industry regulation; Securities and Exchange Commission; securities regulation; mutual funds; state regulation; defined benefit plans

Chapter.  7045 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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