Franklin Delano Roosevelt created the Securities and Exchange Commission to protect the country's investors. The SEC went on to create the Financial Accounting Standards Board to give investors standardized financial reports.And now FASB has taken the next step toward investor protection by establishing an Investor Task Force.
The task force is an advisory group that will provide the board with sector-specific insight and expertise from some of the nation's largest institutional investors. At press time, the six financial concerns on board were The Capital Group Cos., Fidelity Investments, Mellon Financial Corp., Putnam Investments, T. Rowe Price and Wellington Management.
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