WASHINGTON (May 11, 2004)—In separate comment letters to the SEC, NASAA President and Connecticut Securities Director Ralph Lambiase calls for the agency to eliminate mutual fund 12b-1 fees and suggests that requiring mutual funds to impose a minimum holding period for fund shares would more effectively curtail market-timing abuses than the imposition of a mandatory 2 percent redemption fee. Both letters are available on the NASAA website at the links below.
NASAA Comments on the SEC’s Proposed Rule Regarding Mutual Fund 12b-1 Fees
NASAA Comments on the SEC’s Proposed Rule Regarding Mandatory Redemption Fees for Redeemable Securities
For More Information:
Bob Webster, Director of Communications