Reform Failure for Mutual Funds Investments Raises Shady Questions

One of the biggest proponents for securities reform has historically been Louis A. Aguilar. His strong rhetoric as a member of the Securities and Exchange Commission for tough securities oversights to protect investors, is well known in the industry.

However, Aguilar made a recent turn around in his attitude with the rejection of a proposal to strengthen safety factors placed him in the middle of a conflict-of-interest story. It appears that Aguilar is a lawyer for the popular company involved in question, that specialized in money market mutual funds and investments. The sudden change in attitude has raised eyebrows and questions from many that have worked with him in the directions for tighter monitoring. Aquilar has given them reason for the change as the requirement to completely understand all of the implications, prior to instituting any change.

Sources:
http://www.nytimes.com/2012/08/27/business/luis-aguilar-sec-member-role-failed-mutual-fund-reform.html?_r=1&ref=business
http://www.nytimes.com/2012/08/23/business/sec-calls-off-vote-on-fund-regulation.html?pagewanted=all

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