Hearings, Reports and Prints of the Senate Committee on Banking and CurrencyU.S. Government Printing Office, 1967 - Banking law |
From inside the book
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Page 21
... standard from fairness or reasonableness , which would otherwise apply , to the much more permissive standard of waste . But the statutory purpose , and the congressional requirement en- acted in 1940 , has been perverted . The ...
... standard from fairness or reasonableness , which would otherwise apply , to the much more permissive standard of waste . But the statutory purpose , and the congressional requirement en- acted in 1940 , has been perverted . The ...
Page 22
... standard of fairness in transactions between fiduciaries and the invest- ment companies they serve . Specifically , the Commission recommends that section 15 of the act be amended to provide that compensation received for any service ...
... standard of fairness in transactions between fiduciaries and the invest- ment companies they serve . Specifically , the Commission recommends that section 15 of the act be amended to provide that compensation received for any service ...
Page 23
... standard . Finally , a finding that compensation is unreasonable would not be deemed a violation of the act for purposes of criminal prosecution or administrative disciplinary proceedings under any of the acts admin- istered by the ...
... standard . Finally , a finding that compensation is unreasonable would not be deemed a violation of the act for purposes of criminal prosecution or administrative disciplinary proceedings under any of the acts admin- istered by the ...
Page 24
... standard proposed by the Commission is a familiar one and an appropriate one for judicial application . G. THE ... standard by which to guide themselves and an effective means of enforcing it . That is to say , we think that if that ...
... standard proposed by the Commission is a familiar one and an appropriate one for judicial application . G. THE ... standard by which to guide themselves and an effective means of enforcing it . That is to say , we think that if that ...
Page 59
... standard , a standard of reasonableness in the context of a particular situation . For example , I personally would not think a fee of one - tenth of 1 percent would necessarily be more reasonable than one , perhaps , of more than one ...
... standard , a standard of reasonableness in the context of a particular situation . For example , I personally would not think a fee of one - tenth of 1 percent would necessarily be more reasonable than one , perhaps , of more than one ...
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advisory fees amendment amount average banks broker-dealers brokerage capital gains Chairman COHEN Commission's committee common stock compensation competition Congress contractual plan corporate costs court dealers distribution dividends economic effect equity Exchange Commission fact fee rates fiduciary firms front-end load Fund Plan Sponsors fund sales fund's gross growth holders income investment adviser Investment Company Act Investment Company Institute legislation load funds management fees Massachusetts Investors Trust ment million mutual fund industry mutual fund investors Mutual Fund Plan mutual fund shares NASD net asset value paid payments percent performance period persons planholders portfolio president profits proposal purchase question reasonable reduced reinvestment sales charges sales load salesmen sample Section 22(d securities business selling Senator BENNETT Senator MCINTYRE Senator PROXMIRE Senator WILLIAMS statement Stock Exchange substantial survey tion transactions unaffiliated directors voluntary plan Wellington Fund York Stock Exchange