Don't have a link.
Here is a summary I saw.
Require two thirds of a fund's board of directors to be independent.
-Ban fund executives from short-term trading in shares of their own funds.
-Prohibit the same person from managing a mutual fund and hedge fund.
-Establish strict monitoring of 4 p.m. trading deadline that requires an audit trail to ensure system is not being gamed.
-Allow, but not mandate, funds to charge more than a 2 percent fee to discourage short-term trading.
-Require brokers to disclose special financial incentives they received to sell a fund.
-Require funds to have a chief compliance officer who reports directly to independent directors.
-Require independent directors to approve fund manager compensation and make that information public.
I stole that summary from here.
http://www.capitalstool.com/forums/index.php?s=0708abb0ee620d5482bdc6410c5ecff7&act=ST&f=7&t=4154&st=25----------
A big yawn. The only funny thing is how fast they got this thru. See how effective government can be when it works as a partner with bussiness.
This is a PR bill. See folks, everything is fine now. Nothing to worry about. Your retirement wealth is assured.
No matter that the funds, like the rest of Wall St. are a corrupt criminal enterprise. Just forget that and we will all be rich.
No all that remains is to forgive all those naughty boys and get back on with the rounding up of your money so they can skim off some more. In the case of Mutual Funds since there are $7 trillion in them a bit of skimming goes a long way for a few thousand players.