House Panelists Pan Analyst Self-Regulation Plan
American Banker (06/15/01) Vol. 24, No. 6 p.4; Garver, Rob

Equity analysts testifying before the House Financial Services capital markets panel Thursday presented their case as to why analysts should not be held accountable when investors act independently of them and make their own investment decisions. Appearing before the capital markets panel, EnTrust Capital founding partner Gregg Hymowitz said that people who make their own investment decisions instead of turning that job over to a manager or mutual fund should be responsible for their decisions. But lawmakers said that expectation is unrealistic. Rep. Richard H. Baker (R-La.) said it is impractical to expect individual investors to be able to read and understand disclosure documents filed with the Securities and Exchange Commission.


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