Representative Oxley Wants Mutual Fund Costs Disclosure Improved

US House of Representatives Financial Services Committee chairman Michael Oxley (R-Ohio) said yesterday that more needs to be done to help investors understand fund costs, including those he called “hidden or opaque.” Lawmakers will reportedly press the SEC to consider if changes are needed in areas such as fee disclosure and governance. Fees, so-called soft-dollar practices, and the role of independent mutual-fund directors are areas of interest, according to Representative Richard Baker (R-Louisiana), according to the WSJ.