Industry Associations Provide Feedback On SEC Mutual Fund Disclosure Framework

Several industry associations commented on the SEC mutual fund disclosure framework. As previously covered, the SEC requested comment on two features of its disclosure framework: (i) the processing fees charged by broker-dealers and intermediaries for delivering fund shareholder reports and other materials to investors and (ii) the fund disclosure process.

The Investment Company Institute ("ICI") and SIFMA, among others, submitted comments on the processing fees charged by intermediaries. The ICI urged the SEC to permit funds to negotiate prices with vendors and disregard the NYSE fee schedule. The ICI asserted that the NYSE schedule would cause the fees for funds to be higher than necessary.