Commentary

Erik Hoel
Traders Magazine Online News

Will The Bitcoin Bubble Pop Or Will It Envelop Us All?

Guest contributor Erik Hoel asks the question whether the worst is over for bitcoin holders, or still yet to come, what is yet to come? And why.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

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August 31, 2003

Disclosure, Disclosure, Disclosure

By Staff Reports

U.S. Congressman Richard Baker was not pleased with the Securities and Exchange Commission in June. That's when the commission released its 120-page report following Baker's call for the regulators to examine a range of issues on fund disclosure. These included the disclosure of fees not mentioned in funds' expense ratios, as well as transaction costs and soft-dollar arrangements.

Baker was disappointed with the overall contents of the SEC report. He then sponsored the Mutual Funds Integrity and Fee Transparency Act, which was passed by a House committee. It must still make its way through the corridors of power in DC. Baker's bill would require the SEC to write new rules on fee disclosure and examine issues like soft dollars. At the same time, Baker and Rep. Michael Oxley (R.-Ohio) wrote to SEC Chairman William Donaldson earlier this year, requesting a report on fund disclosure issues. The deadline for a response is Oct. 1. Meanwhile, the SEC is hoping to finalize a rule this fall which would require mutual funds to disclosure their holdings quarterly rather than twice a year.