The Power 25 Elite: Mercer Bullard
Age: 40 Founder and CEO, Fund Democracy LLC in Chevy Chase, Md. Power play: The powerful mutual fund…
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.
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