SEC Correspondence on Hidden Mutual Fund Accounts

On June 24,2009, the Coalition of Mutual Fund Investors (CMFI) received a letter from SEC Chairman Mary Schapiro, regarding CMFI's request that the SEC add the issue of hidden mutual fund accounts to its regulatory agenda for 2009.
 
Chairman Schapiro responded to a CMFI letter of May 6, 2009, which included a copy of CMFI's recent White Paper on market timing and other risks to long-term shareholders within hidden accounts.
 
In her letter, Chairman Schapiro pledged to give careful consideration to the problems of hidden accounts and to evaluate whether additional transparency measures are necessary.
 
Click on the following link for a copy of the CMFI letter to the SEC of May 6, 2009:
http://www.investorscoalition.com/CMFISchapiroLetter5-6-2009.pdf
 
Click here for a copy of Chairman Schapiro's response letter of June 23, 2009:
http://www.investorscoalition.com/SchapiroResponseLetter6-23-2009.pdf

Niels Holch

Executive Director, CMFI