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Institute Recommends Improvements to Industry Regulation
Washington, DC, May 1, 2002 - The Institute has submitted to the SEC’s Division of Investment Management a package of proposals to improve investment company regulation. The Institute made the submission in connection with the SEC’s plans to undertake a comprehensive review of its regulations. As noted in the transmittal letter accompanying the submission, while the Institute strongly believes that the Investment Company Act of 1940 continues to work well in the interests of both investors and industry, there are certain regulatory changes the SEC should consider that would benefit all parties.
The Institute’s proposals include a number of recommendations that were previously submitted to the SEC as well as many new ones. The proposals cover a wide range of issues, including affiliated transactions, shareholder communications, variable insurance products, various other rules under the Investment Company Act, and investment adviser advertising.