Redemption fee compliance date approaching
Mutual funds have until April 16 to enter into shareholder information agreements with certain intermediaries.
Mutual funds have until April 16 to enter into shareholder information agreements with certain intermediaries. Mandated under the SEC’s amended fund redemption fee rule, the agreements will allow funds to seek specific shareholder identity and trading information. The date by which funds must be able to request and receive that data is Oct. 16. The agency amended its redemption fee rule last fall to limit the types of intermediaries with which agreements must be made and to clarify the consequences of a fund’s failure to obtain such agreements. For details, go to http://www.sec.gov/rules/final/2006/ic-27504.pdf
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