March 13, 2004
I am totally against this idea of forcing a fee on the public for trading a fund too soon. This should be the decision of the Mutual Fund company to impose a fee if they wish, but not forced on them by government. Keep the government out of this. Put yourself in the shoes of someone who just bought a fund, realized 3 days later he or she made a mistake, and now have to wait 2 more days to sell or be penalized for it. That would be forcing the fund owner to take more of a loss than necessary and if he waits until the 5 day period is up, he or she could loose much more than the 2 fee. This is another one of those stupid things our government always gets there hands in. Please just leave it alone.