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SEC Orders Mutual Funds to Report Proxy Votes

Mutual funds hold enormous power in the corporate world by controlling large chunks of stock in various companies. Until now, they haven't been required to divulge how they use their proxy voting power. But a new SEC rule will make mutual funds report those votes once a year. NPR's Jim Zarroli reports.

Copyright 2003 NPR

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.
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