[24467]
August 5, 2010
TO: SMALL FUNDS COMMITTEE No. 11-10 RE: AUGUST 11, 2010 CONFERENCE CALL ON SEC'S RULE 12B-1 PROPOSAL
As you know, we are in the process of developing the Institute’s positions on the proposal by the Securities and Exchange Commission (SEC) to replace rule 12b-1 with a new distribution framework for fund shares. [1] Toward this end, we will hold a conference call with all interested ICI members on August 10th to discuss the substance of the proposal and get members’ initial reactions.
We will have another conference call at 4:00 p.m. (Eastern) on Wednesday, August 11th with members of the Small Funds Committee to explore the potential impacts of the proposal on smaller fund complexes. This call will be one of a series of calls we are having with particular sets of committees in an effort to discuss certain aspects of the proposal in greater detail. The full schedule of member calls is as follows:
All ICI Committees August 10th Small Funds Committee August 11th SEC Rules Committee August 12th Operations Committee, BDAC, BTRAC and TAAC August 24th Pension and Pension Operations Committees August 26th
To receive dial-in information for the August 11th call, please email Gwen Kelly at gwen.kelly@ici.org. If you are unable to participate on the call or would like to discuss the 12b-1 proposal, please feel free to contact me at either 202-371-5430 or rcg@ici.org.
Robert C. Grohowski
Senior Counsel
Securities Regulation - Investment Companies
endnotes
[1] SEC Release Nos. 33-9128; 34-62544; IC-29367 (July 21, 2010) (the “Release”). The Release can be found on the SEC’s website at http://www.sec.gov/rules/proposed/2010/33-9128.pdf. The proposal is described in detail in a separate memorandum to ICI members, available at http://www.ici.org/my_ici/memorandum/memo24449. Comments on the proposal are due November 5, 2010.