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Mutual Fund Breakpoints

Joint NASD/Industry Task Force on Breakpoints   Status Report: Implementation of Recommendations of Joint NASD/Industry Breakpoint Task Force   Report of the Joint NASD/Industry Task Force on Breakpoints

News   02-12-04 - News Release Fifteen Firms to Pay Over $21.5 Million in Penalties to Settle SEC and NASD Breakpoints Charges   11-03-03 - News Release SEC and NASD Announce Actions as a Result of Findings of "Breakpoint" Overcharges on Mutual Fund Transactions   07-22-03 - News Release Joint NASD/Industry Breakpoint Task Force Issues Report   03-11-03 - News Release SEC, NASD, NYSE Release Findings Of Breakpoint Examination Sweep; Broker-Dealers To Review Transactions   02-18-03 - News Release NASD Announces Joint NASD/Industry Breakpoint Task Force   01-15-03 - News Release NASD Alerts Investors to Problems in Mutual Fund Breakpoints

FINRA Investor Resources   Mutual Fund Breakpoints: Are You Owed a Refund? (11/03/03)   Mutual Fund Breakpoints: A Break Worth Taking (01/14/03)   Understanding Mutual Fund Classes (01/14/03)   FINRA's Mutual Fund Expense Analyzer compares the expenses of different fund classes.

Notices to Members & Guidance   ICI strongly encourages its members to cooperate in breakpoint refund process. NASD issues a Member Alert about facilitating refunds of missed breakpoint discounts. Notice to Members 03-47: 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 (Notice posted on 08/25/03)   Notice to Members 02-85: NASD Requires Immediate Member Firm Action Regarding Mutual Fund Purchases and Breakpoint Schedules (Notice posted on 12/23/02)   Breakpoint Notification: Breakpoint Extensions for Notifying Customers Who Purchased Class A Share Mutual Funds Only Via Paper Applications Submitted to Mutual Funds

Tools & Resources   Mutual Fund Breakpoint Search Tool   Task Force recommendations regarding common definitions for mutual funds to use in describing breakpoint discount rules   Task Force recommendations regarding confirmation content, including breakpoint legends and disclosing sales charges   Frequently Asked Questions   Interest Refund Calculator helps member firms determine interest due on missed breakpoint discounts   Breakpoint Checklist and Worksheet helps members and associated persons gather the information necessary to deliver breakpoint discounts on sales of Class A shares of front-end load mutual funds   Breakpoints Training Outline   New Customer Notification Letters and Customer Breakpoint Claim Forms   Sample Written Disclosure Statement that should be given to customers who purchase mutual funds   Classroom Learning Course: Mutual Funds and Regulation