MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, July 30, 2010 A Fund Firm Sees the NFA Proposal Costing Up to $1 Million InvestmentNews has an article yesterday on the possible implications that could arise should the proposal put forth by the National Futures Association in June be approved. The NFA wants mutual funds investing in futures contracts to register with the U.S. Commodity Futures Trading Commission. The funds are already registered with the SEC. Being registered with both agencies would help improve investor disclosure, according to the NFA. “I spoke to a fund company that estimated the additional costs would be $900,000 to $1 million a year for legal, compliance and accounting,” Dechert attorney Matthew Kerfoot told InvestmentNews. The fund company was not identified. Others who weighed in on the issue are: Gemini Fund Services president Andrew Rogers, who said the proposal could delay the process for rolling out new funds; and Vanguard Group principal John Hollyer, who said the "overlap is going to be an additional complicating factor." Printed from: MFWire.com/story.asp?s=32983 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |