Securities


Amid ongoing turbulence in the equity and debt markets, Paul F. Roye, director of the SEC’s investment management division, warns investment companies—also known as mutual funds—against laying off essential compliance personnel to cut costs. U.S. mutual funds’ combined assets climbed 3.1% to $6.6 trillion at the beginning of October, says the Investment Company Institute, a trade group. But while the gain surprisingly took place in the aftermath of the September 11 terrorist attacks, it did little to reverse the extended downward trend during which total fund assets dropped by 5% from December 2000. ( www.sec.gov/news/speech/spch528.htm ; www.ici.org/facts_figures/trends_1001.html )

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VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.