*Letters

SIA Submits Comments to the NASD on Breakpoint Discounts

Published on:
December 4, 2003

The Securities Industry Association (SIA)* provides comments to the National Association of Securities Dealers (NASD) on an initiative to ensure investors who purchased class A shares of front end load mutual funds receive appropriate breakpoint discounts. SIA suggests working with NASD, the Securities Exchange Commission (SEC), and the Industry to explore ways in which breakpoint policies can be made easier to apply, so that the risk of any further operational problems regarding customers receiving the correct breakpoint is further reduced. SIA requests that deadlines be extended by 60 days to prevent an overlap with the busiest times for the involved departments.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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