Spotlight on
Breakpoints

• Final Rule: Disclosure of Breakpoint Discounts by Mutual Funds (June 7, 2004)
   
• SEC Adopts Rules on Breakpoint Disclosure and Adviser Ethics Codes, Proposes Transfer Agent Rule (Press Release, May 26, 2004)
   
• Making the Most of Mutual Fund Breakpoints (Brochure prepared jointly by NASD, SEC, and industry groups, April 2004)
   
• Summary of Comments: On Proposed Rules Regarding Disclosure of Breakpoint Discounts by Mutual Funds (March 29, 2004)
   
• NASD, Status Report: Implementation of Recommendations of Joint NASD/ Industry Breakpoint Task Force (March 2004)
   
• Fifteen Firms to Pay Over $21.5 Million in Penalties to Settle SEC and NASD Breakpoints Charges (Press Release, February 12, 2004)
   
• SEC Approves NYSE Governance Structure Changes; Proposes Mutual Fund Disclosure Rules; Solicits Comment on Fund Transaction Cost Issues (Press Release, December 17, 2003)
   
• Proposed Rule: Disclosure of Breakpoint Discounts by Mutual Funds (December 17, 2003)
   
• SEC and NASD Announce Actions as a Result of Findings of "Breakpoint" Overcharges on Mutual Fund Transactions (Press Release, November 3, 2003)
   
• Refunds to Customers Who Did Not Receive Appropriate Breakpoint Discounts in Connection with the Purchase of Class A Shares of Front-End Load Mutual Funds and the Capital Treatment of Refund Liability (NASD Notice to Members 03-47, August 25, 2003)
   
• SEC Chairman Donaldson Commends NASD/Industry Task Force for "Breakpoint" Report and Recommendations; Announces SEC Review of Mutual Fund Disclosure (Press Release, July 22, 2003)
   
• Report of the Joint NASD/Industry Task Force on Breakpoints (July 2003)
   
• Staff Report: Joint SEC/NASD/NYSE Report of Examinations of Broker-Dealers Regarding Discounts on Front-End Sales Charges on Mutual Funds (Special Study, March 11, 2003)
   
• SEC, NASD, NYSE Release Findings of Breakpoint Examination Sweep; Broker-Dealers To Review Transactions (Press Release, March 11, 2003)
   
• NASD Announces Joint NASD/Industry Breakpoint Task Force (February 18, 2003)
   
• SEC and NASD Action Plan on Mutual Fund Sales Load Charges (Press Release, January 16, 2003)
   
• Letter re: Convening a working group to explore and recommend solutions to prevent overcharging of mutual fund investors, from Chairman Harvey L. Pitt (January 15, 2003)
   
• Breakpoints ("Fast Answer" page from the Office of Investor Education and Assistance, January 15, 2003)
   
• Letter re: NASD Notice to Members 02-85, from Annette L. Nazareth, Director, Division of Market Regulation, and Paul F. Roye, Director, Division of Investment Management (December 23, 2002)
   
• "NASD Requires Immediate Member Firm Action Regarding Mutual Fund Purchases and Breakpoint Schedules" (NASD Notice to Members 02-85, December 23, 2002)
   

 .

http://www.sec.gov/spotlight/breakpoints.htm