Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, July 14, 1994 TAG: 9408050024
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Short
WASHINGTON - Cathy E. Minehan, a career Federal Reserve employee, was named president of the Boston Federal Reserve Bank Wednesday, only the second woman to head one of the 12 regional Fed banks.
Minehan, 47, will participate in the meetings of the Federal Reserve's top policy-making body, the Federal Open Market Committee, which sets the Fed's targets for interest rates. She succeeds Richard F. Syron, who resigned April 1 to become president of the American Stock Exchange.
-Associated Press
Mutual funds given new rules for ads
WASHINGTON - New truth-in-advertising rules for the booming mutual fund industry were approved Wednesday, a move consumer activists called a welcome step toward removing hype and distortion from some funds' newspaper and magazine ads.
``Mutual fund advertising and disclosure needs major improvement,'' said Jennifer Kohn, consumer advocate with the New York City Public Advocate's Office. ``Any step is in the right direction for consumers.'
The rule changes concern what mutual funds can say in advertisements about their performance and how they are ranked by major fund-analytical services such as Morningstar, Lipper Analytical Services or Money magazine.
The rules, approved by the Securities and Exchange Commission, require fund companies to make specific disclosures when they include rankings in their ads.
-Associated Press
by CNB