Redemption Fee Rule

Detailed information is provided below regarding Rule 22c-2, including model contractual language and a mutual fund agreement package created by the ICI's Standardized Data Reporting Working Group. This information was developed by the Institute for our members to use in informing financial intermediaries of the requirements of the new rule.

The Sample Package may be used to educate intermediaries of the new requirements and assist them in understanding their obligations under the rule, including the requirement to have agreements in place by April 16, 2007. Funds and financial intermediaries should feel free to revise the sample documents provided below as necessary to address their particular circumstances.

Memos

Limited No-Action Relief for Certain Foreign Intermediaries, February 2007 (pdf)
Amendments to the Rule, September 2006, (pdf)
Redemption Fee Rule Adopted, March 2005 (pdf)
Model Contractual Clauses -- Variable Annuities, January 2007 (pdf)
Model Contractual Clauses for Agents of Financial Intermediaries, November 2006 (pdf)
Revised Model Contractual Clauses, October 2006 (pdf)
Sample Agreement Package for Intermediaries, March 2006 (pdf)

Full Sample Package for Intermediaries (pdf)

Full Sample Package for Intermediaries (MS Word)

Sample Package Excerpts

Cover Letter -- Agreement Execution Version, March 2006 (MS Word)
Cover Letter -- Negative Consent Version, March 2006 (MS Word)
Agreement Package List & Documents, March 2006 (MS Word)
Model Contractual Clauses, March 2006 (MS Word)

Model Contractual Clauses

Model Contractual Clauses -- Variable Annuities, January 2007 (MS Word)
Model Contractual Clauses for Agents of Financial Intermediaries, November 2006 (MS Word)
Revised Model Contractual Clauses, October 2006 (MS Word)