SEC Views on Third Party Mutual Fund Accounts

On January 29, 2009, the Coalition of Mutual Fund Investors (CMFI) received a written response to its December 2008 letter to then-SEC Chairman Christopher Cox, urging the Commission to tackle the problems of hidden omnibus accounts and third-party payments to intermediaries.  Both of these regulatory problems require significantly more transparency, according to the Coalition's letter of December 15, 2008.
The SEC's response reflects the current views of the staff at the agency.  Click here to read this SEC letter:
A copy of the Coalition's December letter can be found in the Regulatory Tracker section of the CMFI website (