Regulator Does Its Job, What About Fund Houses?
"The ethical is always more robust than the legal. Over time, it is the legal that should converge to the ethical, never the reverse," wrote Nassim Nicholas Taleb, author, Skin in the Game. The recent event in the domestic mutual fund industry shows that the reverse is happening and it is the legal that is forcing the fund houses to be ethical. It is the regulator that is interfering to set the house in order and introducing rules that should have been set and followed by the fund houses on their own in the interest of investors.
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