"With his long record of standing up for all Americans against special interests, John Kerry is the best candidate for President,” said Attorney General Spitzer.
“He and I have fought together against the violation of clean air laws and to resolve the mutual fund scandal and other corporate wrongdoings. I know that he will help small investors and consumers. John Kerry has a real plan to end the era of special interests and I am convinced he is the man to take back the White House from President Bush and his corporate allies.”
With investor confidence still rocked by corporate scandals and charges of illegal trading practices, John Kerry has taken aim at the mutual funds scandal and developed a plan to restore ethics, integrity, and honesty to business and government by holding corporate America accountable. His plan will stop unfair trading practices, protect shareholders, and assure that all investors get a fair deal. His three-point plan includes:
Ending Market Timing and Late Trading. John Kerry will put a stop to practices that allow big investors to get deals not available to average investors, curbing late-trading and market-timing abuses by fully prosecuting Wall Street insiders that steal from American investors.
Protecting Shareholders with Independent Oversight and Strong Penalties. John Kerry will develop an independent board to ensure that mutual funds are protecting their shareholders, and increase penalties for defrauding investors. John Kerry will help investors recover their losses by applying racketeering laws to late trading schemes.
Assuring Everyday Investors Pay Fair Fees. Kerry will make sure that mutual funds charge fair fees to all shareholders and disclose any significant relationships with companies that receive contracts.
http://www.johnkerry.com/pressroom/releases/pr_2004_0202c.html