The mutual fund regulatory structure is generally recognized today as a model of poor corporate governance.

FORBES: Develop a "Fiduciary Response" or You Will Get Scammed

After all, these have been evident for years and Yukos has become such a model of (by Russian standards) good corporate governance that Exxon Mobil and Chevron Texaco, two American oil giants, are even now vying to buy a big chunk of it.

ECONOMIST: Russia