November 9, 1989
TO: STATE SECURITIES MEMBERS NO. 41-89
UNIT INVESTMENT TRUST MEMBERS NO. 61-89
RE: COMMENTS ON MISSISSIPPI'S PROPOSED FEE CHANGE
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The Mississippi Division of Securities recently asked for
input regarding revisions to their current fee structure.
Mississippi indicated that they wanted to change from a sliding
scale fee to an annual flat fee.
The Institute suggested that Mississippi adopt the blue
chip exemption for qualified mutual funds and unit investment
trusts as an alternative to, or in conjunction with, a change in
the current fee structure. As an alternative to adoption of the
blue chip exemption, the Institute suggested that a single fee be
assessed on the entity rather than each separate portfolio of a
series mutual fund or each series of a unit investment trust.
Attached is a copy of the Institute's comment letters. We
will keep you informed of any developments.
Patricia Louie
Assistant General Counsel
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