[10686]
February 1, 1999
TO: COMPLIANCE ADVISORY COMMITTEE No. 5-99
INTERNATIONAL COMMITTEE No. 3-99
OPERATIONS COMMITTEE No. 3-99
SEC RULES COMMITTEE No. 5-99
TRANSFER AGENT ADVISORY COMMITTEE No. 11-99
MONEY LAUNDERING TASK FORCE
RE: INSTITUTE PAPER ON FOREIGN ASSETS CONTROL COMPLIANCE FOR
MUTUAL FUNDS
______________________________________________________________________________
The Institute has prepared the enclosed paper, entitled “Foreign Assets Control Compliance for
Mutual Funds.” The paper provides an overview of regulations issued by the Treasury Department’s
Office of Foreign Assets Control and describes various measures that mutual fund organizations may
wish to consider adopting to ensure compliance with these regulations.
Frances M. Stadler
Deputy Senior Counsel
Enclosure