Although it is possible to shield from magnetic fields by re-routing them through material with high magnetic permeability, all magnetic fields must terminate in anat the opposite chargepole. That's why there are no magnetic monopoles in existence. Once a magnetic field is created, it is not stopped by living tissue.
Electric fields, on the other hand, are easily shielded by almost anything, including living tissue. Living tissue with varying conductivity may act more or less like a Faraday Cage (http://en.wikipedia.org/wiki/Faraday_cage).
The lines of force of a magnetic field generally are notless affected than electric fields by the electrical conductivity of materials through which the magnetic field passes. This may be why the MEG signal is unimpeded by electrical conductances across living tissue.