United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2005-08-17 monographic deposited born digital 57 p. GA 1.13:GAO-05-415 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-415 P0b002ee18038d707 f:d05415 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-05-415 machine generated eng fdlp REPORT GAOREPORTS-GAO-05-415 GAO-05-415 Brokerage industry Mutual funds Program abuses Quality control Regulatory agencies Securities regulation Self-regulatory organizations Monitoring Other Written Product A33317 As the frontline regulator of mutual funds, the Securities and Exchange Commission (SEC) plays a key role in protecting the nearly half of all U.S. households owning mutual funds, valued around $8 trillion in 2005. Mutual fund abuses raised questions about the integrity of the industry and quality of oversight provided by SEC and self-regulatory organizations (SRO) that regulate broker-dealers selling funds. This report assesses (1) changes SEC has made to, or is planning for, its mutual fund exam program; (2) key aspects of SEC's quality control framework for routine fund exams; and (3) the adequacy of SEC's oversight of NASD and the New York Stock Exchange in protecting shareholders from mutual fund sales abuses. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-415/html/GAOREPORTS-GAO-05-415.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-415/pdf/GAOREPORTS-GAO-05-415.pdf GAO-05-415 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-415 Other Written Product GAO-05-415; Mutual Fund Industry: SEC's Revised Examination Approach Offers Potential Benefits, but Significant Oversight Challenges Remain; Brokerage industry Mutual funds Program abuses Quality control Regulatory agencies Securities regulation Self-regulatory organizations Monitoring