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“Jack Bogle, Haystacks, and Putting the Interest of the Clients First”, Prepared Remarks Before the 2024 Conference on Emerging Trends in Asset Management

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

Summary written by Dark Majestic in its own words · topics: development and emerging economies

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission Wiki“Jack Bogle, Haystacks, and Putting the Interest of the Clients First”, Prepared Remarks Before the 2024 Conference on Emerging Trends in Asset Management

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler points to gaps between bank-run collective funds and mutual funds.

Problems raised
  1. Gaps exist between bank collective funds and open-end funds.
  2. Conflicts can lead advisers to put themselves first.
  3. Client asset safeguarding needs updating.
Solutions proposed
  1. Consult bank regulators on closing gaps.
  2. Address conflicts in investor interactions.
  3. Pursue the safeguarding rule proposal.
Read full speech on sec.gov ↗

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