As expected, the Securities and Exchange Commission is giving retirement plan recordkeepers and mutual fund firms extra time to comply with Rule 22c-2, originally scheduled to take effect on October 16, 2006. The commission announced Wednesday that the compliance date for the shareholder information agreement provisions of the rule will be extended by six months, until April 16, 2007, and the date by which funds must be able to obtain information from intermediaries under those agreements will be extended by 12 months, until October 16, 2007.

The commission has voted to clarify the operation of the rule and reduce the number of shareholder iinformation agreements funds must enter into with intermediaries.

Click here for the final rule.  

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