• SEC Proposes Revisions to Rule 22c-2 re: Mutual Fund Redemption Fees and Relationships with Intermediaries
  • March 9, 2006
  • Law Firm: Reed Smith LLP - Pittsburgh Office
  • On February 28, 2006, the SEC issued a Release proposing amendments to Rule 22c-2 (which governs mutual fund redemption fees and relationships with intermediaries). The proposals are intended to (1) limit the types of intermediaries with which funds must negotiate information-sharing agreements, (2) address the rule's application when there are "chains of intermediaries," and (3) clarify the effect of a fund's failure to obtain an agreement with any of its intermediaries.