©2006 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete.
Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice.
[20132]
June 22, 2006
TO: OPERATIONS COMMITTEE No. 15-06
TRANSFER AGENT ADVISORY COMMITTEE No. 41-06
RE: TRANSFER AGENT ADVISORY COMMITTEE RULE 22C-2 SURVEY RESULTS
The Transfer Agent Advisory Committee (“TAAC”) established a task force1, chaired by Mary
Corcoran of AIM Investment Services, to develop a survey on Rule 22c-2. The purpose of the survey
was to collect information on implementation of and compliance with Rule 22c-2 from an operations
perspective. The survey was organized to collect data from respondents with respect to omnibus
account identification, redemption fee policies, Rule 22c-2 agreements, data collection policies and
practices, and data analysis and reporting.
Forty-five fund companies2 completed the survey. The survey results are attached for your
review and include data collected in the spring of 2006.
The ICI solicited data from member complexes for informational purposes only. All survey
responses were aggregated and no individual complex data are presented or discussed in the final
document. The aggregate survey results will be discussed at future ICI Committee meetings. Institute
members should act independently in making any decisions based on the survey results. These survey
results are confidential and have been copyrighted by the Institute. They are for members’ internal use
only. No part of the survey document may be reproduced, stored in a retrieval system, or transmitted
in any form or by any means – electronic, mechanical, photocopying, recording, or otherwise – without
prior permission.
1 A list of the organizations represented on the Rule 22c-2 Implementation Task Force is included in Appendix 1 of the
report.
2 A list of the fund companies that provided data for the survey is included in Appendix 2 of the report.
2
We would like to extend our thanks to Mary Corcoran and the other TAAC members who
participated on the Rule 22c-2 Implementation Task Force. We would also like to thank those fund
complexes that participated in the survey. If you have any questions or comments, please contact Diane
Butler at 202-326-5850 or at butler@ici.org.
Dave Harbeitner Diane Butler
Vice President- T.Rowe Price Services, Inc. Director – Transfer Agency &
Chairman – Transfer Agent Advisory Committee International Operations
Attachment no. 1 (in .pdf format)