It has been almost 30 years since significant steps were taken to improve the mutual fund governance structure, ... Whether shareholders realize it or not, how directors fulfill their responsibilities directly affects them every day.
More Quotes from Arthur Levitt:
While private equity will remain technically private, its actions will become the public's concern.Arthur Levitt
What must occur is a greater recognition by investors of their individual responsibility.
Arthur Levitt
Decimal trading will benefit investors by allowing greater competition and making it easier to compare prices, ... It will also bring about consistency with foreign markets, which now trade in decimals. We look forward to working with the industry to ensure that the transition to decimals goes smoothly.
Arthur Levitt
How many times have we seen an analyst on television being asked to list his top five picks And how many times has that analyst taken the opportunity to caution viewers, 'By the way, my employer recently underwrote three of these stocks'
Arthur Levitt
These issues are not academic or peripheral -- they directly affect every mutual fund investor. ... One word above all must define a fund's overall management structure. That word is accountability. And, without strong independent directors, accountability is nothing more than words on a page.
Arthur Levitt
This is bound to inflame investor passion. Evidently, Raymond did a first-rate job. Why do they want to hurt his legacy and his image by creating a compensation package that is so skewed and so unnecessary
Arthur Levitt
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