SEC Open Meeting Agenda
|Item 1:||Mutual Fund Redemption Fees|
Office: Division of Investment Management
Staff: Robert E. Plaze, Hunter Jones, Penelope Saltzman and William Middlebrooks
|Item 2:||Nationally Recognized Statistical Rating Organizations|
Office: Division of Market Regulation
Staff: Mark Attar and Rachael Grad
|Item 3:||Order Approving Public Company Accounting Oversight Board Revised Budget and Annual Accounting Support Fees for Calendar Year 2005|
Office: Office of the Chief Accountant; Office of the Executive Director
Staff: Donald T. Nicolaisen, Andrew D. Bailey, Robert E. Burns, Melanie S. Jacobsen, Brian T. Croteau, James McConnell, William F. Wiggins and Kenneth Johnson
The Commission will consider whether to adopt new rule 22c-2 under the Investment Company Act of 1940. The rule would allow registered open-end investment companies (“funds”) to impose a redemption fee, not to exceed two percent of the amount redeemed, to be retained by the fund. The new rule also would require funds to enter into written agreements with intermediaries (such as broker-dealers and retirement plan administrators) that hold fund shares on behalf of other investors, under which the intermediaries must agree to (i) provide funds with certain shareholder identity and transaction information at the request of the fund, and (ii) implement fund instructions to implement trading restrictions against traders the fund has identified as violating the fund’s market timing policies. The Commission is also seeking additional comment on whether it should establish uniform standards for redemption fees charged under the rule.
For further information, please contact William Middlebrooks, Division of Investment Management, at (202) 551-6792.
The Commission will consider whether to propose a new rule, under the Securities Exchange Act of 1934, that would define the term “nationally recognized statistical rating organization” (or “NRSRO”).
For further information, please contact Mark Attar at (202) 942-0766 or Rachael Grad at (202) 942-0183, Division of Market Regulation.
The Commission will consider whether to approve the budget of the Public Company Accounting Oversight Board and will consider the annual accounting support fees under section 109 of the Sarbanes-Oxley Act of 2002.
For further information, please contact Robert Burns, at (202) 942-4400, Office of the Chief Accountant.
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