March 19, 1992
TO: STATE SECURITIES MEMBERS NO. 12-92
UNIT INVESTMENT TRUST MEMBERS NO. 18-92
RE: COLORADO FEE INCREASE EFFECTIVE APRIL 1, 1992
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The Institute has recently been advised that certain of the
securities registration and exemption fees in Colorado will be
increased as of April 1, 1992. The fee to claim the blue chip
exemption for qualified mutual funds pursuant to Section 11-51-
307(1(k)(I)(A) of the Colorado Securities Act will be increased
to $200 (currently the fee is $125). The fee to claim the blue
chip for unit investment trusts remains $125. For funds and
trusts who do not qualify for the blue chip exemption, the
registration by filing fee will be increased to $250 (currently
$200).
As you know, the Colorado Securities Division may only
collect in fees an amount equal to its budget as set by the
Colorado State Legislature. In determining the fee structure for
investment companies, the Division had considered requiring
separate registration and/or claim of exemption for each series
or portfolio of a mutual fund. However, the Institute advised
the Division that the fee to claim the blue chip exemption and to
register by filing be increased and that such fee cover the
entire fund rather than requiring a separate filing and the
payment of a separate fee for each series or portfolio.
A copy of the schedule of the Colorado securities
registration and exemption fees is attached. We will keep you
advised of developments.
Patricia Louie
Assistant General Counsel
Attachment