Securities and Exchange Commission March 7, 2006 – Federal Register Recent Federal Regulation Documents

Mutual Fund Redemption Fees
Document Number: E6-3164
Type: Proposed Rule
Date: 2006-03-07
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission (``Commission'' or ``SEC'') is proposing amendments to the redemption fee rule we recently adopted. The rule, among other things, requires most open-end investment companies (``funds'') to enter into agreements with intermediaries, such as broker-dealers, that hold shares on behalf of other investors in so called ``omnibus accounts.'' These agreements must provide funds access to information about transactions in these accounts to enable the funds to enforce restrictions on market timing and similar abusive transactions. The Commission is proposing to amend the rule to clarify the operation of the rule and reduce the number of intermediaries with which funds must negotiate information-sharing agreements. The amendments are designed to address issues that came to our attention after we had adopted the rule, and are designed to reduce the costs to funds (and fund shareholders) while still achieving the goals of the rulemaking.
Submission for OMB Review; Comment Request
Document Number: E6-3161
Type: Notice
Date: 2006-03-07
Agency: Securities and Exchange Commission, Agencies and Commissions
Submission for OMB Review; Comment Request
Document Number: E6-3160
Type: Notice
Date: 2006-03-07
Agency: Securities and Exchange Commission, Agencies and Commissions