Proposal to Adopt Maximum Fees

SIFMA provided comments to the Securities and Exchange Commission (SEC) on a proposed rule change and amendments designed to adopt fees pertaining to mutual fund distributions of investment company shareholder reports. SIFMA discusses some operational concerns regarding how brokers would satisfy the new processing requirements, which are in some respect more complex than the implementation of the Notice and Access model for the delivery of proxy materials.

See:

SEC (Release No. 34-78589: File No. SR-NYSE-2016-55): Proposed Rule Change Adopting Maximum Fees Member Organizations may Charge in Connection with the Distribution of Investment Company Shareholder Reports Pursuant to Any Electronic Delivery Rules Adopted by the Securities and Exchange Commission Pursuant to Section 19(b)(1)1 of the Securities Exchange Act of 1934 (the “Act”)2