Mutual funds won’t be forced to replace their auditors, at least for now, while regulators work to resolve a dispute over whether some auditors have violated conflict-of-interest rules. In a letter to Fidelity Management & Research Co., the Securities and Exchange Commission granted a temporary reprieve, which “will expire 18 months from issuance.” The step gives the SEC more time to devise a comprehensive solution to the issue, said Susan Wyderko, president and CEO of Mutual Fund Directors Forum. Read the original story from The Wall Street Journal.
