©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.
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September 22, 2006
TO: OPERATIONS COMMITTEE No. 25-06
TRANSFER AGENT ADVISORY COMMITTEE No. 61-06
BANK, TRUST AND RECORDKEEPER ADVISORY COMMITTEE No. 27-06
BROKER/DEALER ADVISORY COMMITTEE No. 37-06
SMALL FUNDS COMMITTEE No. 25-06
TECHNOLOGY ADVISORY COMMITTEE No. 16-06
RE: FACTORS TO CONSIDER WHEN PREPARING FOR AN UNSCHEDULED
MARKET CLOSE
The Unscheduled Market Close (“UMC”) Task Force1, led by Nick Horvath of DST Systems,
Inc., developed the attached documents to assist mutual funds and their business partners as they
prepare procedures for an unscheduled market close, such as the day of mourning in June 2004 to
honor President Ronald Reagan. Institute members should act independently in making any decisions
based on these documents.
We would like to extend our thanks to Nick and the TAAC and BTRAC members who
participated on the UMC Task Force. If you have any questions or comments on the UMC
documents, please contact Diane Butler at 202-326-5850 or butler@ici.org.
David Harbeitner Diane Butler
T.Rowe Price Services, Inc. Director – Transfer Agency &
Chairman – Transfer Agent Advisory Committee International Operations
Attachments (in .pdf format)
1 The UMC Task Force included participants from the Transfer Agent Advisory Committee and the Bank, Trust and
Recordkeeper Advisory Committee.