As a means of combating abusive
short-term trading of mutural fund shares, Rule 22c-2 provides that
if a fund redeems its share within seven days, its board must
consider whether to impose a fee of up to two percent of the value
of shares redeemed shortly after their purchase. The rule also
requires such a fund to enter into agreements with is
intermediaries that provide fund manage- ment the ability to
identify investors whose trading violates fund restrictions on
short-term trading. To reduce the costs of compliane with the rule,
and to adress certain technical issues these amendments to Rule
22c-2 would (i) limit the types of .....
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Investment Company Act rule 22c-2, 17 CFR 270.22c-2 Mutual Fund Redemption Fees