January 26, 1989
TO: SEC RULES MEMBERS NO. 4-89
STATE SECURITIES MEMBERS NO. 5-89
BROKER/DEALER ADVISORY COMMITTEE NO. 6-89
RE: IDAHO ISSUES RELEASE ON MUTUAL FUND WHOLESALERS
__________________________________________________________
Attached is a recent release of the Idaho Securities Bureau
stating that mutual fund sponsors that participate in seminars
and sales meetings of local broker-dealers may need to be
registered in Idaho. The Bureau takes the position that persons
who discuss specific securities or types of investments with the
public or customers of a broker-dealer has made an offer of
securities and must be registered.
Natalie Shirley
Associate General Counsel
Attachment