From: Brad Georges
Sent: Wednesday, April 17, 2013 10:00 AM
To: Benham, Stephen
Subject: RE: Rule 15b-12;

Dear Mr. Benham
As it is now only 90 days until this rule is set to expire, are you able to give the industry any updates as to what the next likely outcomes are, e.g. another extension of the rule, or setting some new guidelines, or a date by which time you expect to have a decision or make an announcement. I have searched your website and have not been able to see any related announcements.
As you know it is difficult for large institutions to react to regulatory changes on short notice as they like to plan and prepare for change.
Any communication you might have on this subject would be helpfully received by all.
Thank you for your assistance.
Kind regards

Brad Georges
Managing Director