News Focus
News Focus
Followers 26
Posts 10630
Boards Moderated 0
Alias Born 01/09/2004

Re: Zeev Hed post# 221268

Monday, 03/22/2004 12:57:04 PM

Monday, March 22, 2004 12:57:04 PM

Post# of 704047
Point was Taiwanese ramp for this year flagged. DVD players already a disposable item. I'll see if I can find a spot price site for the DVD chips..

CROOK NEWS: Industry Lobbyists May Have Known As Early as 2000 About Market Timing (and ICI acted so "shocked" when the news came out last year....)
By TOM LAURICELLA
Staff Reporter of THE WALL STREET JOURNAL
March 22, 2004; Page C1

Since the mutual-fund scandal erupted six months ago, the Investment Company Institute, the industry's lobbying arm, has been outspoken in criticizing fund companies and their employees accused of making improper trading agreements with market timers at the expense of small investors. "It is a particular outrage that some funds permitted a few large shareholders to prey on smaller ones," ICI President Matthew Fink told a Senate committee on Nov. 18. "This repudiates the most fundamental principle underlying mutual funds -- that all shareholders must be treated alike. There must be zero tolerance of arrangements that violate this principle," Mr. Fink said. But one thing the ICI hasn't spoken out about: Whether ICI officials themselves were aware before the improper trading was revealed by regulators that some fund companies had made agreements with market timers. Several ICI officials participated in a conference call in November 2000 at which deals to accommodate business from market timers were mentioned by a representative of Alliance Capital Management Holding LP, which was later implicated in the fund scandal, according to notes of the meeting reviewed by The Wall Street Journal. In addition, another fund company directly told the ICI the following spring that it tried to work out arrangements with timers, according to a person familiar with the matter.

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today