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U.S. Securities and Exchange Commission

Speech by SEC Chairman:
Closing Statement at Open Commission Meeting


Chairman William H. Donaldson

U.S. Securities and Exchange Commission

Washington, D.C.
August 18, 2004

The two proposals the Commission approved today will help to further eliminate conflicts of interest that can compromise best execution decisions in fund portfolio transactions, and will ensure that investors have more information to help them make better informed investment decisions. These rules effectively complement the comprehensive mutual fund reform efforts that have been underway since last Fall. I salute the Commission and the staff for their work and their commitment to protecting mutual fund investors.


Modified: 08/18/2004