SEC continues to address market-timing related redemption fee rule
On Feb 28, 2006, the Securities and Exchange Commission issued proposed amendments to recently adopted Rule 22c-2 under the Investment Company Act of 1940. The Proposed Amendments are intended to address certain questions raised by the industry concerning the obligations of funds and financial inter...
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| Veröffentlicht in: | The Investment Lawyer 2006-05, Vol.13 (5), p.1 |
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| creator | Haskin, Benjamin J Newell, Matthew E |
| description | On Feb 28, 2006, the Securities and Exchange Commission issued proposed amendments to recently adopted Rule 22c-2 under the Investment Company Act of 1940. The Proposed Amendments are intended to address certain questions raised by the industry concerning the obligations of funds and financial intermediaries and clarify the effect of a fund's failure to comply with certain aspects of the Rule. The Proposed Amendments are designed to reduce the burden of funds imposed by Rule 22c-2 requirements mandating that a fund enter into written agreements with each intermediary under which the intermediary must collect and provide information on shareholder transactions to a fund on request. The Amendments, however, do not address how funds and intermediaries should proceed in complying with Rule 22c-2, nor do they permit funds to determine for themselves with which intermediaries to enter into shareholder information agreements. Many fund groups are already working to address these issues. |
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The Proposed Amendments are intended to address certain questions raised by the industry concerning the obligations of funds and financial intermediaries and clarify the effect of a fund's failure to comply with certain aspects of the Rule. The Proposed Amendments are designed to reduce the burden of funds imposed by Rule 22c-2 requirements mandating that a fund enter into written agreements with each intermediary under which the intermediary must collect and provide information on shareholder transactions to a fund on request. The Amendments, however, do not address how funds and intermediaries should proceed in complying with Rule 22c-2, nor do they permit funds to determine for themselves with which intermediaries to enter into shareholder information agreements. 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| identifier | ISSN: 1075-4512 |
| ispartof | The Investment Lawyer, 2006-05, Vol.13 (5), p.1 |
| issn | 1075-4512 |
| language | eng |
| recordid | cdi_proquest_reports_225229760 |
| source | Business Source Complete |
| subjects | Agreements Amendments Compliance Costs Disclosure (Securities law) Employees Fees & charges Funds Market timing Purchasing Retirement plans Scandals SEC regulations Securities redemptions Stockholders Third party |
| title | SEC continues to address market-timing related redemption fee rule |
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