Arthur Levitt Directly Quotations

It has been almost 30 years since significant steps were taken to improve the mutual fund governance structure, ... Whether shareholders realize it or not, how directors fulfill their responsibilities directly affects them every day.

These issues are not academic or peripheral -- they directly affect every mutual fund investor. ... One word above all must define a fund's overall management structure. That word is accountability. And, without strong independent directors, accountability is nothing more than words on a page.