From: PRyan101@aol.com [mailto:PRyan101@aol.com]
SEC Chairman William Donaldson
Over the past six months, government investigators have shown that some mutual fund managers have allowed improper market timing and illegal late trading to occur in their funds. In some instance, managers have conducted questionable trading in funds under their own management, investigators have said.
I support your changes as outlined below, except I believe you should require disclosure of the amount of salary, bonus and other benefits received by Officers. Without statistics how do you know what you are paying for?
You have proposed that funds identify portfolio managers by name, title, experience and role; describe how their pay is set, but not the pay itself; and give dollar ranges of shares held personally by managers in the funds they manage. The proposal also calls for disclosure of other accounts managed by portfolio managers, such as hedge funds or pension plans, and description of "any conflicts of interest that may arise" as a result of handling more than one fund at a time.
Peter Ryan, Palm City, Fl