[13350]
April 5, 2001
TO: OPERATIONS COMMITTEE No. 12-01
TRANSFER AGENT ADVISORY COMMITTEE No. 26-01
RE: REDEMPTION PRACTICES SURVEY
The Transfer Agent Advisory Committee recently formed a task force to assess
redemption transaction processing practices and procedures in our industry. The task force, co-
chaired by Tom Lanio of Van Kampen Investor Services and Charlie Hawkins of PNC Financial
Services Group, developed a survey to gather information on redemption practices and
procedures. Attached is a copy of the survey.
The survey solicits information on (1) the profile of the responding firm, (2) the types of
redemption requests accepted, (3) good order review procedures, (4) redemption trade limits,
(5) tax and sales charge policies, (6) transaction processing and follow-up procedures, and (7)
fraud prevention procedures. Data collected from each individual firm will remain confidential
and only aggregate survey results will be reported.
This survey will be a web-only survey. Survey participants will access and complete
the survey on a specially designated address on the Institute’s website. Each participating firm
is asked to designate a survey completion contact that will need to sign up to complete the
survey by entering their contact information at http://surveys.ici.org/redemptions/register.cfm.
All survey contacts may now register to complete the survey and will receive instructions by
email from the ICI containing the questionnaire URL and further instructions. The survey is
expected to be available for completion by April 16, 2001. Survey participants are asked to
submit their completed web survey forms to the Institute no later than May 18, 2001.
If you have any questions regarding the survey, please direct your inquiries to the
following Institute staff:
• Registration issues – Misty Phillips at mphillip@ici.org or 202/326-5852,
• Technical issues regarding web entry of the survey – Lee Butler at lbutler@ici.org or
202/326-5931, and
• Survey content issues – Kathy Joaquin at kjoaquin@ici.org or 202/326-5930.
2We encourage our Operations and Transfer Agent Advisory Committee members to
complete this survey. The aggregate survey results will be shared with the committees and
reviewed and discussed at future committee meetings.
Thank you for your attention and assistance in this important project.
Kathleen C. Joaquin
Director - Transfer Agency
& International Operations
Attachment
Attachment (in .pdf format)