NASAA Comments on SEC Mutual Fund Proposals

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
202-737-0900

2004 Headlines, Newsroom