Document Type
Article
Publication Date
1973
Abstract
On November 3, 1972, the Commission announced hearings on mutual fund distribution and the potential impact of the repeal of Section 22(d) of the Investment Company Act of 1940 (Investment Company Act Rel. No. 7475; 37 FR 24449, 11-17-72). Section H of that release discussed the desirability of developing an adequate economic data base with respect to mutual fund sales charges. Such data could facilitate the Commission in monitoring trends in the industry's costs, profitability, and general economic structure. If this data were made publicly available by the Commission on a timely basis, it could provide mutual fund directors with information which would be of value to them in the discharge of their duty in evaluating investment advisory and principal underwriting contracts. A threshold question is whether it is necessary to develop procedures for the full allocation of expenses to revenue in order for the Commission and mutual fund directors to discharge their responsibilities. In this connection, particular attention is called to the December 29, 1972, report to the Commission by the Advisory Committee on Investment Companies and Advisers. Of course, in order to embark on any such program of data collection analysis and dissemination, the Commission would have to develop adequate staff resources and review capability.
Relational Format
article
Series Title
Accounting Series Release No. 140;Securities Exchange Act of 1934 Release No. 9958;Investment Advisers Act of 1940 Release No. 357;Investment Company Act of 1940 Release No. 7635
Recommended Citation
United States. Securities and Exchange Commission, "Discussion of development of an adequate economic data base with respect to mutual fund sales charges in connection with hearings on mutual fund distribution and the potential impact of the repeal of Section 22(d) of the Investment Company Act of 1940" (1973). Federal Publications. 207.
https://egrove.olemiss.edu/acct_fed/207