PLANS FOR UPCOMING CCO COMMITTEE MEETINGS/NOTICE OF MARCH MEETINGS - RESPONSE REQUESTED BY MARCH 7TH

[18599] February 28, 2005 TO: CHIEF COMPLIANCE OFFICER COMMITTEE No. 21-05 COMPLIANCE ADVISORY COMMITTEE No. 19-05 RE: PLANS FOR UPCOMING CCO COMMITTEE MEETINGS/NOTICE OF MARCH MEETINGS - RESPONSE REQUESTED BY MARCH 7TH PLANS FOR UPCOMING CCO COMMITTEE MEETINGS As you know, the Institute held the inaugural meeting of the Chief Compliance Officer Committee last November. Approximately 150 members were in attendance. At the meeting, we received positive feedback and numerous suggestions for structuring future meetings. Based on those suggestions, we plan the following:
 In order to address the size of the Committee (presently at 204 members), we will conduct CCO Committee meetings in three separate regions (East Coast, Midwest, and West Coast) in the spring, summer and fall of 2005. The regional meeting format should enhance the level of open communication and foster greater participation by members. Institute staff will also share information on the issues discussed from meeting to meeting to provide greater consistency among the regions.
Each meeting will consist of a general session in the morning for committee members, and a breakout session in the afternoon for members who wish to discuss small fund issues. The agenda for each CCO Committee meeting will be the same for each region and, for the time being, will consist primarily of issues relating to the implementation of Rule 38a-1 and Rule 206(4)-7. In addition, from time to time, we will invite an outside speaker, such as a senior SEC staff member, to address the Committee.
The Compliance Advisory Committee will continue to meet and will focus on specific, substantive compliance issues. The Committee will meet 2-3 times per year in Washington, D.C., and will continue to offer Committee members the ability to participate in the meetings by videoconference from a designated site on the West Coast. We expect that the next meeting of the Compliance Advisory Committee will take place in the late April/early May timeframe. We will send out a notice in March announcing the meeting. 2
As requested by members at the November 2004 meeting, we have enclosed a current roster of the CCO Committee. Please notify Michelle Kretsch in our Member Services Department at 202/326-5972 (phone), 202/326-5985 (fax), or kretsch@ici.org with any changes you may have. If necessary, we will re-circulate an updated roster. If you have any questions or comments on any of the above, please contact me at 202/326-5923 (phone), 202/326-5827 (fax), or bsimmons@ici.org (email).
The Institute will sponsor its annual Mutual Fund Compliance Conference on June 23-24, 2005.
We value members’ input and welcome additional suggestions for improvements going forward. NOTICE OF SPRING 2005 REGIONAL CCO COMMITTEE MEETINGS The Spring 2005 meetings of the Chief Compliance Officer Committee have been scheduled as follows: Region Date Location/City Time West Coast Thursday, March 24th Franklin Templeton Investments 10:00 a.m. PST 1 Franklin Parkway San Mateo, CA 94403-1906 Midwest Tuesday, March 29th Ariel Capital Management 10:00 a.m. CST 200 East Randolph Drive 80th Floor – Mid-America Club Chicago, IL 60601 East Coast Thursday, March 31st Investment Company Institute 10:00 a.m. EST 1401 H Street 12th Floor – David Silver Conference Room Washington, DC 20005 As noted above, each regional meeting will consist of a general session in the morning for all committee members and a breakout session in the afternoon for members who wish to discuss issues of concern to small funds. Lunch will be served between the two sessions. Please indicate on the attached response form whether you or an alternate will attend the meeting, and which location(s) you will attend. (As a reminder, only chief compliance officers, or their designees, may attend the meeting.) In addition, please provide any items that you would like to discuss. To help us get an accurate count, please fax your registration form to Stephanie Holly at (202) 326-5827 by Monday, March 7, 2005. We look forward to seeing you in March. Barry E. Simmons Associate Counsel Attachment (in .pdf format)