Partner Jessica Forbes quoted, <i>Fund Action</i>,

Partner Jessica Forbes quoted, Fund Action, "Lieberman Bill Gets Harsh Response"

An article entitled "Lieberman Bill Gets Harsh Response" in the June 21st Fund Action notes that "[I]industry officials have been unequivocal in their criticism of the bill introduced by Sen. Joseph Lieberman...[that]would create a Division of the Investor at the Securities and Exchange Commission, which would be responsible for 'providing the small investor's perspective on new rule and policy proposals, identifying new issues of particular concern to small investors and serving as a conduit for the concerns of outside advocates for small investors.'....Jessica Forbes, a partner at Fried, Frank, Harris, Shriver & Jacobson [LLP] in New York, said that money was not lost because of small investor education, or lack thereof. Instead, larger issues, such as fraud and conflicts of interest, were to blame, she noted. 'The proposed bill won't help with the big picture,' Forbes said."