SECURITIES: Problem Children?

Open-end investment trusts are the wonder children of the securities industry. In ten years, their assets have jumped from less than $500 million to almost $2 billion. But as the children grew, the Securities & Exchange Commission thought that some of them had picked up bad habits. Three months ago, SEC got together with leaders in the investment company field, for a heart-to-heart talk about the selling methods of some of the funds' underwriters and dealers. Some of them, complained SEC, were advertising their shares as "guaranteed by the Government," "like a bank deposit," or "better than savings bonds."...

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