The Power 25 Elite: Mercer Bullard

Age: 40

Founder and CEO, Fund Democracy LLC in Chevy Chase, Md.

Power play: The powerful mutual fund industry has a new thorn in its side.

Mr. Bullard last year left his job as an attorney at the Securities and Exchange Commission and created a company with a mission to fix what he sees as inequities in the fund business.

Working from his home, he very quickly filed a rulemaking petition with the SEC calling for monthly disclosure of fund holdings, more-accurate fund names and Internet postings of portfolio holdings.

In early January, he was able to check off one of those – the SEC passed a rule requiring fund names to more accurately reflect holdings.

Bottom line: If he keeps it up, mutual funds may very well become more investor friendly.