SPEAKER INDEX    CONTENTS   INSERTS   
BAKER            1      3      4     21     24     27     29     31     33  
                35     37     38     41     44     45     49     53     55  
                57     58     59     61     64     65     66     69     74  
BOGLE           38     57     58     59     64     65     68     69     70  
                71     72  
BULLARD         42     73  
CAPUANO         31     32     33  
EMANUEL         35     36     37     44  
FORD            44  
GREEN            5      9     12     13     14  
HAAGA           49     56     58     59     65     67     68     69     72  
HILLMAN          9     12     13     20     21     23     31     32     34  
                35     37  
HOBSON          45     55     58     59     66     67     73  
KANJORSKI        3     14     15     16     17     18     59     61     64  
KELLY           18     19     24     25     26  
MATHESON        27     28     29  
MILLER OF NORTH CAROLINA    21     23  
OXLEY           33     34     35  
ROYCE           69     70     71     72     73     74  
ROYE             6     14     15     16     17     18     19     20     21  
                22     23     24     25     26     27     28     29     30  
                31     32     33     34     36     38  
SCOTT            5  
TIBERI          19     20     21     66     67     68     69  

CONTENTS    SPEAKERS   INSERTS   
STATEMENT OF PAUL ROYE, DIRECTOR, DIVISION OF INVESTMENT MANAGEMENT, U.S. SECURITIES AND EXCHANGE 
COMMISSION
                                                                 PAGE     5

STATEMENT OF RICHARD HILLMAN, DIRECTOR, FINANCIAL MARKETS AND COMMUNITY INVESTMENT, U.S. GAO
                                                                 PAGE     9

STATEMENT OF JOHN C. BOGLE, FOUNDER, THE VANGUARD GROUP
                                                                 PAGE    38

STATEMENT OF MERCER BULLARD, FOUNDER AND PRESIDENT, FUND DEMOCRACY
                                                                 PAGE    41

STATEMENT OF MELLODY HOBSON, PRESIDENT, ARIEL MUTUAL FUNDS
                                                                 PAGE    45

STATEMENT OF PAUL HAAGA, CHAIRMAN, INVESTMENT COMPANY INSTITUTE
                                                                 PAGE    49


INSERTS    SPEAKERS   CONTENTS   
NO INSERTS IN THIS HEARING