MSRB To Collect Additional Fee Data About College Savings And ABLE Programs

The SEC approved an MSRB proposal to amend MSRB Form G-45 to require the underwriters of (i) college savings plans implemented in accordance with Section 529 of the Internal Revenue Code, and (ii) Achieving a Better Life Experience ("ABLE") programs (issued under the "ABLE Act") to report additional data on transactional fees. The amendments will become effective on June 30, 2018.

Under the amended Form G-45, covered underwriters will be required to submit applicable information regarding additional fees and expenses, including but not limited to:

• account opening fees;
• investment administration fees;
• change in account owner fees;
• cancellation/withdrawal fees;
• rollover fees;